Prepare the journal entry for the following transaction:
The Board of Directors of XYZ Corporation declared dividends of $6,000. These dividends were paid to the stockholders on the same date.

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The Answer of Prepare the journal entry for the following transaction:
The Board of Directors of XYZ Corporation declared dividends of $6,000. These dividends were paid to the stockholders on the same date.

Prepare the Journal Entry for the Following Transaction