ABC Co. declares a $0.50 per share cash dividend on its common shares, of which 100,000 shares are outstanding. Record the journal entry to avoid a year-end closing entry of the dividends account.

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The Answer of ABC Co. declares a $0.50 per share cash dividend on its common shares, of which 100,000 shares are outstanding. Record the journal entry to avoid a year-end closing entry of the dividends account.

ABC Co Declares a $0