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Please help me with calculating entry for July 18th On January 1, 2021, Gerlach Inc. had the following account balances in its shareholders' equity accounts.

Please help me with calculating entry for July 18thimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

On January 1, 2021, Gerlach Inc. had the following account balances in its shareholders' equity accounts. common Common stock, $1 par, 255,000 shares issued Paid-in capital-excess of par, Paid-in capital-excess of par, preferred Preferred stock, $100 par, 12,500 shares outstanding Retained earnings Treasury stock, at cost, 5,500 shares $ 255,000 510,000 125,000 1,250,000 2,500,000 27,500 During 2021, Gerlach Inc. had several transactions relating to common stock. January 15: Declared a property dividend of 100,000 shares of slowdown Company (book value $10.5 per share, fair value $9.25 pe share). February 17: Distributed the property dividend. April 10: A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. (Fascom chose to reduce Paid-in capital-excess of par.) The fair value of the stock was $4 on this date. July 18: Declared and distributed a 3% stock dividend on outstanding common stock; fair value per share, $5. December 1: Declared a 50 cents per share cash dividend on the outstanding common shares. December 20: Paid the cash dividend. Required: Record the above transactions and events in journal entry format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Declared a 50 cents per share cash dividend on the outstanding common shares. Note: Enter debits before credits. Date General Journal Debit Credit December 01, 2021 Retained earnings Cash dividends payable Record entry Clear entry View general journal Journal entry worksheet

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