A company with 2 000 000 outstanding shares of stock declared a
A company with 2,000,000 outstanding shares of stock declared a $0.10 per share dividend on July 10. The dividend is payable on July 31 to stockholders of record on July 17.
Required
Prepare the entries that the company would make on the date of declaration and payment date. What is the total effect of both entries on total stockholders' equity?
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