Prepare Journal Entries for all of the following transactions: 

On January 1, 20X8, Shadow Corporation began operations by selling 120,000 shares of $2 par value stock to the public for $5 per share.

 On June 30 , they sold 50,000 more shares at $6 per share. 

On July 1 , they declared a dividend of $.25 per share, payable on July 30 to shareholders of record on July 15 . 

On July 30 they paid the dividend.  

Answer rating: 100% (QA)

Here are the journal entries for the given transactions 1 On January 1 20X8 When the company sold th... View the full answer