Question: Create a General Journal entry in accordance with GAPP and using the periodic inventory system and the net method;A dividend of $.75 (75 cents) per

Create a General Journal entry in accordance with GAPP and using the periodic inventory system and the net method;A dividend of $.75 (75 cents) per share is declared for all outstanding shares as of Dec 12. The dividend will be paid to shareholders on January 12, 20X6. Special Note: Before the treasury stock transaction of December 1, 500,000 shares were outstanding.

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