Question: The Board for Smith Co. declared a $0.10 per share cash dividend. Smith has 100,000 shares authorized, 95,000 shares issued, and 4,000 shares in treasury

The Board for Smith Co. declared a $0.10 per share cash dividend. Smith has 100,000 shares authorized, 95,000 shares issued, and 4,000 shares in treasury stock. The journal entry to record the dividend declaration is:

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