27) Charter Schools, Inc. is authorized to issue 500,000 shares of S2 par common stock....
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27) Charter Schools, Inc. is authorized to issue 500,000 shares of S2 par common stock. The company issued 105,000 shares at 56 per share. When the market price of common stock was $10 per share, Charter declared and distributed a 10% stock dividend. Later, Charter declared and paid a 50.10 per share cash dividend. Prepare the journal entries to record these transactions. Explanations are not required
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