NOTE:

Use decimals for ratio answers. Round ratio answers to two decimal places.

Requirements:

Record journal entries for the following transactions that occurred:

On November $12$ th$,$ you issue $100,000$ shares $($with par value of $$10$ per share$)$ of your company for total cash proceeds of $$1,500,000.$ Record the issuance of shares.

On December $31$st$,$ you declare a cash dividend of $$0\mathrm{.}50$ per share. Record the declaration of the dividend and subsequent payment on January $14$ th$.$