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Vincent Corporation has 100,000 shares of $100 par common stock outstanding. On June 30, they declared a 5% stock dividend to be issued on July 30 to...

Vincent Corporation has 100,000 shares of $100 par common stock outstanding. On June 30, they declared a 5% stock dividend to be issued on July 30 to stockholders of record as of July 15. The market price of the stock was $130/ share on June 30.  Journalize the required entries on June 30, July 15 and July 30.

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Date Accounts Debit Credit June  30 Retained Earnings 650 , 000 stock dividend... View the full answer

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June 30 DR Retained Earnings 650,000 CR Stock... View the full answer

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