On September 11, 2014, the Hafar Corporation has unrestricted Retained Earnings of $6,000,000, Appropriated Retained Earnings of $4,000,000, Cash of $7,500,000, and Accounts Payable of $500,000. What is the maximum amount that the corporation could use for cash dividends on that date?
A) $7,500,000
B) $7,000,000
C) $6,000,000
D) $5,500,000
Correct Answer:
Verified
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