CALCULATOR PRINTER VERSION BACK NEXT Exercise 240 On January 1, 2020, the Blue Spruce Corp. had $2,700,000 of $10 par value common stock outstanding that was issued at par and Retained Earnings of $1,300,000. The company issued 142,000 shares of common stock at $15 per share on July 1. On December 15, the board of directors declared a 10% stock dividend to stockholders of record on December 31, 2020, payable on January 15, 2021. The market value of Blue Spruce Corp, stock was $17 per share on December 15 and $17 per share on December 31. Net income for 2020 was $690,000 Journalize the issuance of stock on July 1 and the declaration of the stock dividend on December 15. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit July 1 Credit Cash 2,130,000 Common Stock 1,420,000 Prepare the stockholders' equity section of the balance sheet for Blue Spruce Corp. at December 31, 2020. BLUE SPRUCE CORP. Balance Sheet (Partial) $ Click if you would like to Show Work for this question: Open Show Work Ques CALCULATOR PRINTER VERSION BACK NEXT Exercise 240 On January 1, 2020, the Blue Spruce Corp. had $2,700,000 of $10 par value common stock outstanding that was issued at par and Retained Earnings of $1,300,000. The company issued 142,000 shares of common stock at $15 per share on July 1. On December 15, the board of directors declared a 10% stock dividend to stockholders of record on December 31, 2020, payable on January 15, 2021. The market value of Blue Spruce Corp, stock was $17 per share on December 15 and $17 per share on December 31. Net income for 2020 was $690,000 Journalize the issuance of stock on July 1 and the declaration of the stock dividend on December 15. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit July 1 Credit Cash 2,130,000 Common Stock 1,420,000 Prepare the stockholders' equity section of the balance sheet for Blue Spruce Corp. at December 31, 2020. BLUE SPRUCE CORP. Balance Sheet (Partial) $ Click if you would like to Show Work for this question: Open Show Work Ques