Business, 04.10.2020 20:01 santosm35

Fetzer Company declared a $0.50 per share cash dividend. The company has 260,000 shares authorized, 247,000 shares issued, and 10,400 shares in treasury stock. The journal entry to record the dividend declaration is: Multiple Choice Debit Retained Earnings $123,500; credit Common Dividends Payable $123,500. Debit Retained Earnings $118,300; credit Common Dividends Payable $118,300. Debit Common Dividends Payable $123,500; credit Cash $123,500. Debit Retained Earnings $130,000; credit Common Dividends Payable $130,000. Debit Common Dividends Payable $118,300; credit Cash $118,300.

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Fetzer Company declared a $0.50 per share cash dividend. The company has 260,000 shares authorized,...

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