Tent & Tarp Corporation is a manufacturer of outdoor camping equipment. The company was incorporated ten years ago. It is authorized to issue 50,000 shares of $10 par value 5% preferred stock. It is also authorized to issue 500,000 shares of $1 par value common stock. It has issued 5,000 common shares and 2,000 of the preferred shares. The corporation has never declared a dividend and the preferred shares are one years in arrears. Tent & Tarp has the following transactions:

Journalize these transactions. For the stock split, show the calculation for how many shares are outstanding after the split and the par value per share after the split

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Mar. 1 Mar. 30 Jul. 10 Declares a cash dividend of $10,000 Pays the cash dividend Declares a 5-for-1 stock split of its common shares