Cash dividends of $50,000 were declared during the year. Cash dividends payable were $10,000 and $20,000 at the beginning and end of the year, respectively. The amount of cash for the payment of dividends during the year is

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The cash paid for dividends is calculated as: Dividends declared ($50,000) + Beginning dividends payable ($10,000) - Ending dividends payable ($20,000) = $40,000.

Cash Dividends of $50,000 Were Declared During the Year