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Problem 1: Assume that Atkinson Corporation has 1,500,000 shares of $5 par value common stock issued and outstanding. The company is authorized to issue 10 million shares. Due to increased share? prices, the corporation decided to implement a? 2-for-1 stock split. Prepare the journal entries required on the declaration and distribution of the stock split. ?(Record debits? first, then credits. Exclude explanations from any journal entries. If no entry is? required, select? "No Entry? Required" on the first line of the Account column and leave all other cells? blank.) Account choices for JEAdditional Paid-in Capital from Treasury Stock TransactionsAdditional Paid-in Capital in Excess of Par - CommonCashCash Dividends PayableCommon Stock - ParDividends - Common StockMiscellaneous ExpenseTreasury Stock
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