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Exercise 11-13 On January 1, Guillen Corporation had 97,500 shares of no-par common stock issued and outstanding. The stock h

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June 15 Cash Dividends 120000 =(97500+22500)*1
      Dividends Payable 120000
July 10 Dividends Payable 120000
       Cash 120000
Dec 15 Cash Dividends 595350 =(97500+22500+1500)*4.90
      Dividends Payable 595350
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