Sub: Accounts Topic: Accounting for corporations
Preparation of journal entries to record issue of shares and dividend.
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On January 1, 2008, Dolan Corporation had 60,000 shares of $1 par value common stock issued and
outstanding. During the year, the following transactions occurred:
Mar. 1 Issued 20,000 shares of common stock for $400,000.
June 1 Declared a c