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Vaughn Manufacturing is authorized to issue 2.960,000 shares of $1 par value common stock. During 2020, the company has the following stock transactions. Jan. 15
Vaughn Manufacturing is authorized to issue 2.960,000 shares of $1 par value common stock. During 2020, the company has the following stock transactions. Jan. 15 Issued 819,000 shares of stock at $7 per share. Sept. 5 Purchased 28,000 shares of common stock for the treasury at $9 per share. Dec. 6 Declared a $0.50 per share dividend to stockholders of record on December 20, payable January 3, 2021. Journalize the transactions for Vaughn Manufacturing Credit account titles are automatically indented when the amount is entered. Do not indent manually Record journal entries in the order no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 15 Sept. 5 Dec. 6
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