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Prepare journal entries to record the above transactions for Emerson Corporation. (If no entry is required for a transaction/

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Date General Journal Debit Credit
15-Jul Retained earnings 165,000
Common dividend payable 165,000
15-Aug No Journal entry required
31-Aug Common dividend payable 165,000
Cash 165,000

* 15th August - No journal entry is required for date of record for cash dividends.

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