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At the end of its year, the securities portfolio consisted of the following common stocks, all of which Wildhorse Co . has 1 , 0
At the end of its year, the securities portfolio consisted of the following common stocks, all of which Wildhorse Co has authorized shares of $ par value common stock. As of June there were shares
issued and outstanding. On June the board of directors declared a $ per share cash dividend to be paid on August
Prepare the necessary journal entries to be recorded on a the date of declaration, b the date of record, and c the date of payment.
If no entry is required, select No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented
when the amount is entered. Do not indent manually.
No Account Titles and Explanation
Debit
Credit
a
b
c les then
ownership.
In the following year, the Edmunds common stock is sold for cash proceeds of $ The gain or loss to be recognized on the sale is a
gain of $
loss of $
loss of $
gain of $
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