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Question(s) / Instruction(s):

Jones Hardware, Inc. pays a cash dividend of $6,000, what is the necessary entry to record this transaction?

a)            Debit Cash, Credit Retained Earnings

b)            Debit Dividends, Credit Cash

c)            Debit Common Stock, Credit Cash

d)            Debit Cash, Credit Common Stock

e)            Debit Cash, Credit Dividend Income

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