On January 1, 2025, Cullumber Supply Corporation had $2,300,000 of $10 per value common stock outstanding that was issued at par and Retained Earnings of $1,150,000. The company issued 161,000 shares of common stock at $15 per share on July 1. On December 15, the board of directors declared a 10% stock dividend to stockholders of record on December 31, 2025, payable on January 15, 2026. The market value of Cullumber Supply Corporation stock was $17 per share on December 15 and $16 per share on December 31. Net income for 2025 was $575,000. (a) Your answer has been saved. See score details after the due date. Journalize the issuance of stock on July 1 and the declaration of the stock dividend on December 15. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Date July 1 Dec 15 V Cash Common Stock Pald-In Capital In Excess of Par-Common Stock Retained Earnings Common Stock Pald-In Capital In Excess of Par-Common Stock Debit 2415000 195500 Credit 2300000 115000 115000 80500

On January 1,2025, Cullumber Supply Corporation had $2,300,000 of $10 par value common stock outstanding that was issued at par and Retained Earnings of $1,150,000. The company issued 161,000 shares of common stock at $15 per share on July 1 On December 15, the board of directors declared a 10\%, stock dividend to stockholders of record on December 31, 2025, payable on January 15, 2026. The market value of Cullumber Supply Corporation stockwas $17 per share on December 15 and $16 per $ hare on December 31 . Net income for 2025 was $575,000 (a) Your ancwer has been saved. See score detsils after the due date Journalize the issuance of stock on July 1 and the declaration of the stockdividend on December 15. iCredit occount titles are outomoticolly indented when the amount is entered. Do not indent manually. Record journal entries in the order presentied in the problem. If no entry is required, select 'No Entry' for the occount 6 tes and enter ofor the amounts Ust all debit entries before credit entries) Prepare the stockholders' equity section of the balance sheet for Cullumber Supply Corporation at December 31, 2025