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Mustang Corporation had 100,000 shares of $2 par value common stock outstanding. On December 31 , 2021, the co directors declares a 50 percent stock

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Mustang Corporation had 100,000 shares of $2 par value common stock outstanding. On December 31 , 2021, the co directors declares a 50 percent stock dividend. This stock dividend will be distributed on January 20,2022 to the st record on January 15,2022 . The market price of the company's stock is $10 per share on December 31,2021. Complete the necessary journal entry to record the declaration of the stock dividend by selecting the account name down menus and entering the dollar amounts in the debit or credit columns. Prior to June 1, Sandler Company had no treasury stock transactions. Then, on June 1, the company paid $5,000 to purchase 100 shares of its common stock on the open market. Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. Prior to June 1, Sandler Company had no treasury stock transactions. Then, on June 1 , the company paid $5,000 to purchase 100 shares of its common stock on the open market. On July 1 , the company sold 50 of these shares at $52 per share. Then, on August 1, the company sold the remaining 50 shares at $46 per share. Complete the joumal entry for the sale of the treasury stock on July 1 by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns

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