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During its first year of operations, Cupola Fan Corporation issued 39,000 of $1 par Class...

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Accounting

During its first year of operations, Cupola Fan Corporation issued 39,000 of $1 par Class B shares for $430,000 on June 30,2024. Share issue costs were $2,400. One year from the issue date (July 1,2025), the corporation retired 10% of the shares for $44,000.
Required:
to 4. Prepare the journal entries to record the issuance of the shares, the declaration of a $2.90 per share dividend on December 1,2024, the payment of the dividend on December 31,2024, and the retirement of the shares.
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Journal entry worksheet
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Record the issuance of the shares.
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