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Prepare journal entries to record transactions for calvin co

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On January 1, 2018, Calvin Corporation had 60,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred:

March 1 Issued 40,000 shares of common stock for $6,000,000

June 1 Declared a cash dividend of $2 per share to stockholders of record

June 15 June 30 Paid the $2 cash dividend

Instructions:

Problem 1: Prepare journal entries to record the above transactions

Reference no: EM132787478

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