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Prepare appropriate general journal entries for each of the following transactions for Mainstream Technologies, Inc. Mar. 25 Declared a 10% stock dividend to common shareholders.

Prepare appropriate general journal entries for each of the following transactions for Mainstream Technologies, Inc.

Mar. 25 Declared a 10% stock dividend to common shareholders. The market value of the common stock is $12 per share. The par value is $10. There are 100,000 shares of common stock currently outstanding.
Apr. 1 Issued the stock certificates for the stock dividend.
July 31 Declared a two-for-one stock split. Issued 200,000 shares of $12 par common stock in exchange for 100,000 shares of $10 par common stock.

Prepare journal entries for the transactions. If an amount box does not require an entry, leave it blank.

Page: 1
DATE DESCRIPTION POST. REF. DEBIT CREDIT
1 Mar. 25 fill in the blank 37a4a3fe8f9cf9b_2 fill in the blank 37a4a3fe8f9cf9b_3 1
2 fill in the blank 37a4a3fe8f9cf9b_5 fill in the blank 37a4a3fe8f9cf9b_6 2
3 fill in the blank 37a4a3fe8f9cf9b_8 fill in the blank 37a4a3fe8f9cf9b_9 3
4 4
5 Apr. 1 fill in the blank 37a4a3fe8f9cf9b_11 fill in the blank 37a4a3fe8f9cf9b_12 5
6 fill in the blank 37a4a3fe8f9cf9b_14 fill in the blank 37a4a3fe8f9cf9b_15 6

Declared a two-for-one stock split. How is this transaction recorded in the books of Mainstream Technologies, Inc.?

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