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Question - On January 1, Cullumber Corporation had 94,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $7 per share. During the year, the following occurred.
Apr. 1 Issued 23,000 additional shares of common stock for $19 per share.
June 15 Declared a cash dividend of $2 per share to stockholders of record on June 30.
July 10 Paid the $2 cash dividend.
Dec. 1 Issued 1,000 additional shares of common stock for $19 per share.
Dec. 15 Declared a cash dividend on outstanding shares of $1.80 per share to stockholders of record on December 31.
Required - Prepare the entries to record these transactions.
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Transactions involving sales and cash receipts for the firm during April 2016 follow, along with the general ledger accounts used to record these transactions
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