Question: Problem 2 Prepare entries to record the following: SHOW YOUR WORK January 1, Issued 5,000 shares of $3 par common stock at $30. June 30,

Problem 2 Prepare entries to record the following: SHOW YOUR WORK

  • January 1, Issued 5,000 shares of $3 par common stock at $30.
  • June 30, Purchased 1000 shares of treasury stock at $25.
  • August 1, Sold the 100 shares of treasury stock purchased in (b) at $40.
  • December 31, declared a $25,000 dividend to be paid next year

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