On January 1, Guillen Corporation had 95,000 shares of no-par
common stock issued and outstanding. The stock has a stated value
of $5 per share. During the year, the following occurred.
|Apr.||1||Issued 25,000 additional shares of common stock for $17 per share.|
|June||15||Declared a cash dividend of $1 per share to stockholders of record on June 30.|
|July||10||Paid the $1 cash dividend.|
|Dec.||1||Issued 2,000 additional shares of common stock for $19 per share.|
|15||Declared a cash dividend on outstanding shares of $1.20 per share to stockholders of record on December 31.|
Prepare the entries to record these transactions.
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