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On January 1, 2023, Biscuit Corporation had 80,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred:
On January 1, 2023, Biscuit Corporation had 80,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: March 1 Issued 50,000 shares of common stock for $500,000 Declared a cash dividend of $1.50 per share to stockholders of record June 1 June 15 June 30 Paid the 1.50 cash dividend Instructions: Prepare journal entries to record the above transactions
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