Red Market Corporation has 370,000 shares of $27 par common stock outstanding. On June 8, Red Market

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Red Market Corporation has 370,000 shares of $27 par common stock outstanding. On June 8, Red Market Corporation declared a 5% stock dividend to be issued August 12 to stockholders of record on July 13. The market price of the stock was $51 per share on June 8.Journalize the entries required on June 8, July 13, and August 12.

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Accounting

ISBN: 9781337902687

28th Edition

Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider

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