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Question 18: Fields Corporation has 80,000 ordinary shares outstanding. It declares a $ 2 per...

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Accounting

Question 18: Fields Corporation has 80,000 ordinary shares outstanding. It declares a $ 2 per share cash dividend on November 1, 20x6 to shareholders of record on December 1, 20x6. The dividend is paid on December 31, 20x6.

Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend.

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