Question: Question Content Area Journalize the following selected transactions completed during the current fiscal year: Date Transaction February 1 The board of directors declared a stock

Question Content Area

Journalize the following selected transactions completed during the current fiscal year:

Date Transaction
February 1 The board of directors declared a stock split that reduced the par of common shares from $100 to $20. This action increased the number of outstanding shares to 500,000.
February 11 Purchased 25,000 shares of the company's own stock at $44, recording the treasury stock at cost.
May 1 Declared a dividend of $2.50 per share on the outstanding shares of common stock.
May 15 Paid the dividend declared on May 1.
October 19 Declared a 2% stock dividend on the common stock outstanding (the fair market value of the stock to be issued is $55).
November 12 Issued the certificates for the common stock dividend declared on October 19.

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