Business, 06.04.2020 18:24 JeroMii

Aaron Company has 80,000 shares of $10 par common stock outstanding. On May 25, Aaron Company declared a $1.50 cash dividend. The market price of the stock on May 25 was $17 per share. The journal entry to record the cash dividend would include:.a. a debit to Cash Dividends for $120,000.b. a debit to Cash for $560,000.c. a credit to Paid-In Capital in Excess of Par—Common Stock for $560,000.d. all of these choices are correct.

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Aaron Company has 80,000 shares of $10 par common stock outstanding. On May 25, Aaron Company declar...