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Prepare journal entries for transactions for dundar mifflin

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Reference no: EM132904094

Problem 1: Prepare the journal entries for the following transactions for Dundar Mifflin:

  • Dundar Mifflin purchased 1,200 shares of the total of 100,000 outstanding shares of Steve & Company stock for $20.75 per share plus a $70 commission.
  • Steve & Company total earnings for the period are $84,000.
  • Steve & Company paid a total of $40,000 in cash dividends to shareholders of record.

Reference no: EM132904094

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