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(H5) PSPlease fill in exactly the same way as this form Adams Moving and Storage, a family-owned corporation, declared a property dividend of 600 shares
(H5) PSPlease fill in exactly the same way as this form
Adams Moving and Storage, a family-owned corporation, declared a property dividend of 600 shares of GE common stock that Adams had purchased in February for $16,800 as an investment. GE's shares had a market value of $26 per share on the declaration date. Prepare the journal entries to record the property dividend on the declaration and payment dates. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Note: tnter debits betore credits. Journal entry worksheet 1 Record the journal entry on the declaration date. Note: Enter debits before credits. Journal entry worksheet Record the journal entry on the payment date. Note: Enter debits before credits. Journal entry worksheet Record the journal entry on the payment date. Note: Enter debits before creditsStep by Step Solution
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