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Can I please have some assistance getting the right answer and a step by step guide. Not sure what not able to read it properly
Can I please have some assistance getting the right answer and a step by step guide.
Not sure what not able to read it properly means? Do you mean it's blurry or what?
SECTION 2 (30 points) Martin Corporation began operations on January 1, 2020. The company was authorized to issue up to 3 million shares of $4 par value common stock. The following transactions occurred in 2020. January 1 Issued 60,000 shares of common stock for $27 cash per share. X April 24 Issued 6,000 shares of common stock for land with a fair market value of $192,000. June 30 Directors declared a $.70 per share cash dividend payable on August 2nd to the July 24th stockholders of record. August 2 Paid the cash dividend declared on June 30th September 5 Declared a 10% common stock dividend when the common stock's market value is $36 per share. October 4 Issued stock dividend that was declared on September 5th October 21 Purchased 7,000 shares of its own common stock at $38 cash per share. November 10 Sold 2,000 shares at $40 cash per share of treasury common stock purchased on October 21st. December 22 Sold the remaining 5,000 shares of its treasury common stock at $31 cash per share. December 31 The company had net income of $358,617 and closed the Income Summary account. OSX) SNIMS SECTION 2 (30 points) Martin Corporation began operations on January 1, 2020. The company was authorized to issue up to 3 million sh $4 par value common stock. The following transactions occurred in 2020. 3 million shares of January 1 Issued 60,000 shares of common stock for $27 cash per share. "IM os X April 24 Issued 6,000 shares of common stock for land with a fair market value of $192,000. June 30 Directors declared a $.70 per share cash dividend payable on August 2nd to the July 24th stockholders of record. Paid the cash dividend declared on June 30th August 2 September 5 A Declared a 10% common stock dividend when the common stock's market value is $36 per share. October 4 Issued stock dividend that was declared on September 5th October 21 Purchased 7,000 shares of its own common stock at $38 cash per share. November 10 Sold 2,000 shares at $40 cash per share of treasury common stock purchased on October 21st. Por? L December 22 Sold the remaining 5,000 shares of its treasury common stock at $31 cash per share. December 31 The company had net income of $358,617 and closed the Income Summary account. Required: On the separately distributed general journal page prepare the journal entries (in good form) to record the transactions described above. Be sure to include dates. Leave a blank line between journal entries. You must print your name on the general journal page
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