Espinoza Corporation secured authorization from the state for 200,000 shares of $10 par value common stock. It
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Espinoza Corporation secured authorization from the state for 200,000 shares of $10 par value common stock. It has 160,000 shares issued and 140,000 shares outstanding.
On June 5, the board of directors declared a $.50 per share cash dividend to be paid on June 25 to stockholders of record on June 15. Prepare entries in journal form to record these events.
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