On December 15, Taylor Corporation declared a cash dividend of $0.77 per share to be paid on
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Question:
On December 15, Taylor Corporation declared a cash dividend of $0.77 per share to be paid on January 15 to stockholders of record on December 31. Taylor has 154,000,000 shares of common stock outstanding.
Required
Identify the date of declaration, the date of record, and the payment date, and prepare all necessary journal entries on those dates.
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