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On February 15, 2012, Portage Company Declared a Dividend of $115,000

Question 22

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On February 15, 2012, Portage Company declared a dividend of $115,000. Portage Company decided that the dividend would be paid on May 31, 2012, to all shareholders of record on April 20, 2012.
Prepare the appropriate journal entries to record the transactions on the following dates:
On February 15, 2012, Portage Company declared a dividend of $115,000. Portage Company decided that the dividend would be paid on May 31, 2012, to all shareholders of record on April 20, 2012. Prepare the appropriate journal entries to record the transactions on the following dates:

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