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On the beginning of year 2020, the retained earnings had a balance of P 138,850....

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Accounting

On the beginning of year 2020, the retained earnings had a balance of P 138,850. The net income for 2020 was P 72,840. If the retained earnings had a credit balance of P 58,950 after closing entries were posted on December 31, 2020, the dividends declared during 2020 is

a. P 131,790

b. P 152,740

c. P 124,960

d. P 197,800

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