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Question: Receiving Dividends 1. Framington Co. owns 5,000 shares (15%) of Pandora Inc. In 2016. on Dec. 1…
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Show transcribed image text Receiving Dividends 1. Framington Co. owns 5,000 shares (15%) of Pandora Inc. In 2016. on Dec. 15. Pandora declares a $5 per share cash dividend to be paid at the end of December. Framington records the dividend when it is declared. Make the journal entry for Framington on Dec. 15. 2. Framington Co. owns 6, 500 shares (30%) of Matlin Company. In 2016. on Dec. 15, Matlin declares a $2 per share cash dividend to be paid at the end December. Framington records the dividend when it is paid. Make the journal entry for Framington on Dec. 31.

Receiving Dividends 1. Framington Co. owns 5,000 shares (15%) of Pandora Inc. In 2016. on Dec. 15. Pandora declares a $5 per share cash dividend to be paid at the end of December. Framington records the dividend when it is declared. Make the journal entry for Framington on Dec. 15. 2. Framington Co. owns 6, 500 shares (30%) of Matlin Company. In 2016. on Dec. 15, Matlin declares a $2 per share cash dividend to be paid at the end December. Framington records the dividend when it is paid. Make the journal entry for Framington on Dec. 31.

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