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7 pts Question 11 On January 1, Balloon Corporation had 2,000,000 shares of $5 par value common stock outstanding. On May 31 the company declared

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7 pts Question 11 On January 1, Balloon Corporation had 2,000,000 shares of $5 par value common stock outstanding. On May 31 the company declared a 10% stock dividend. Market value of the stock was $12 per share. As a result of this event Prepare the journal entry a) For the declaration of the dividend. c) For the issuance of the dividend But View into fools The 128 Paragraph 7 VA 2 o words

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