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Problem 3 On January 1 Collen Company began operations by issuing 10,000 shares of $1 par value stock for $10 per share. On June 30th

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Problem 3 On January 1 Collen Company began operations by issuing 10,000 shares of $1 par value stock for $10 per share. On June 30th they declared a $0.10 per share dividend to shareholders of record on July 15th, payable July 30th. Prepare all journal entries for the above transactions

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