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Question
*john jones company has 20,000 shares of $100 par value common stock. assuming that the proper journal entry was made to record a 5% common stock dividend on the declaration date when the market value of the stock was $135, which of the following accounts would be debited when the stock dividend is distributed?
a.retained earnings
b.dividends payable
c.common stock dividends distributable
d.paid-in capital in excess of par value
Answer
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