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Choi Corp has 1 million outstanding common shares and on September 25, Choi Corp declares to...

Choi Corp has 1 million outstanding common shares and on September 25, Choi Corp declares to pay $1 cash dividend to shareholders on October 25. Which of the following accounting is correct for September 25? *

Cash credit 1 million

Retained Earning credit 1 million

Cash debit 1million

Retained Earnings debit 1 million

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