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Regional Candy Corp. produces candy canes and other snacks under the brand names Rush and Explosion. A press release contained the following information: March 5-Regional Candy Corp. today announced that its Board of Directors has declared a special "one-time" cash dividend of $1.30 per share on its 103,000 outstanding common shares. The dividend will be paid on April 29 to shareholders of record at the close of business on March 26. The Company's fiscal year will end April 30 . Required: 1. Prepare any journal entries that Regional Candy Corp. should make on the four dates mentioned in press release. (If no entry is required for a transaction/date, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the declaration of a cash dividend of $1.30 per share payable on the 103,000 shares of common stock outstanding. Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet 1 Record the payment of the cash dividend. Note: Enter debits before credits. Record the entry to close dividends account. Note: Enter debits before credits. Vhat would the board of directors have considered before making the dividend lecisions? The board must consider the balances of common stock and cash before declaring a cash dividend. The board must consider the balances of retained earnings and cash before declaring a cash dividend

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