The company owns 2,000 shares of Stock A and 4,000 shares of Stock B. The company received

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The company owns 2,000 shares of Stock A and 4,000 shares of Stock B. The company received dividends of $2.50 per share from Stock A and $0.65 per share from Stock B. The company classifies Stock A as a trading security and Stock B as an available-for-sale security. Make the journal entry or entries necessary to record the receipt of the cash dividends.


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Intermediate Accounting

ISBN: 978-0324312140

16th Edition

Authors: James D. Stice, Earl K. Stice, Fred Skousen

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