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On April 30, 2012, Loufti Company Declared a Dividend of $40,000

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On April 30, 2012, Loufti Company declared a dividend of $40,000. Loufti Company decided that the dividend would be paid on June 15, 2012, to all shareholders of record on May 25, 2012. The journal entry to record the payment of the dividend on June 15 would include a

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