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is this right? On demary 1, 2016. Calvin Corporation had 60,000 shares of 51 pat value common stock issued and outstanding. During the year, the

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On demary 1, 2016. Calvin Corporation had 60,000 shares of 51 pat value common stock issued and outstanding. During the year, the following transactions occurred Instructions: Trepare journal entries to record the above transactions Notes: lead carefully and follow strictly so that Bb can grade you correctly 1. Wait write deron the account title and numbers for each transaction (use comma in numbers, one thousand is 1,000, not 1000. NO decimal point, NOS 1,000 Com Sok 1.000 2. Always De first, then 2. Use and copy accurately only the following account names (not ease sensitive) CashCons Stk. PIC in Excess of Par, RE, DivIP. Treasury S. EG M 1 Issued 40,000 shares of common wock for 5600,000 Account Cash DE 600,000 Account Com Cr. 40,000 Account PC in Excess of Par Cr. 540.000 lune Declared a cash dividend of $3.00 per share to stockholders of record on June 15 Account RE Dr. 300,000 Accoum Div.P Cr. 300,000 June 10 Paid the $3.00 cash divided Account DWT Dr. 300.000 Acc Cat CL 100.000 esc Search or type URL Account PIC in Excess of Par Cr. 540,000 June 1 Declared a cash dividend of 83.00 per share to stockholders of record on June 15 Account RE D M00,000 Account Divp Cr. 300,000 June 30 Paid the 53.00 cash dividend Account Diva Dr. 300,000 Account Cash Cr.300.000 Dec 1 Purchased 4,000 shares of common stock for the treasury for $22 per share Account Treasury Sick Dr. 88,000 Account Cash C. 88,000 Dec 15 Declared a cuth dividend on outstanding shares of $3.25 per share to stockholders of record on December 31 Account RE Dr. 312.000 Account DiwP CE 312.000

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