Record the journal entry for the following transactions: (If no entry is required for a transactionievent, sale View transaction list Journal entry…

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Altuve Co. was incorporated on January 1, 2016, at which time 475,000 shares of $10 par value common stock were authorized, and 200,000 of these shares were issued for $16 per share. Net income for the year ended December 31, 2016, was $2,286,000. Altuve Co.’s board of directors declared dividends of $3 per share of common stock on December 31, 2016, payable on February 7, 2017.

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