Question: Balloon Corporation has 250 000 shares of common stock issued and
Balloon Corporation has 250,000 shares of common stock issued and outstanding. On June 9, 201X, the board of directors declared a $0.52 per share dividend, payable on July 16, 201X, to stockholders of record on June 29, 201X. Record the appropriate journal entries on June 9 and July 16.
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