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On July 10, 2007, Greco Co. declared its annual cash dividend on common stock for the year ended June 30, 2007. The dividend was paid on August 12, 2007, to shareholders of record as of July 25, 2007. On what date should Greco decrease the liability account by the amount of the dividend?

a) July 10, 2007

b) June 30, 2007.

c) August 12, 2007

d) July 25, 2007

 

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