Question Correction Status QUESTION 22 On January 1, 2020, Petty Company began operations by selling 20,000 shares of $1 par value slock for 55 per share. What is the journal entry for this transaction? Account name Debit Credit Description On June 301 Petty declared a 5.50 per share dividend to shareholders of record on July 15th payable July 30th Prepare the journal entry recorded on the date of declaration Account name Debit Credit Description What would be the journal entry recorded on the date of payment? Account name Debat Credit Description