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Appaloosa Corporation had 100,000 shares of $2 par value common stock issued...

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Accounting

Appaloosa Corporation had 100,000 shares of $2 par value common stock issued and outstanding. On January 1, the companys board of directors declares a 50% stock dividend. The market price of the companys stock is $10 per share on January 1. Prepare the necessary journal entry for January 1.

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