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Journalize the entries require on each date

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Q1. The declaration, record, and payment dates in connection with a cash dividend of P1,250,000 on a corporation's common stock are August 1, October 15, and November 14. Journalize the entries require on each date.

Q2. Old Wine Corporation has 250,000 shares of common stock outstanding. On February 15, Old Wine Corp. declared a 2% stock dividend to be issued May 2 to stockholders of record on March 27. The market price of the stock was P52 per share on February 15. Journalize the entries required on February 15, March 27, and May 2.

Reference no: EM133008124

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