Madrid Corporation has 18,000 shares of $30 par common stock outstanding. On August 2, Madrid Corporation declared a 5%

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Madrid Corporation Has 18 000 Shares Of 30 Par Common Stock Outstanding On August 2 Madrid Corporation Declared A 5 1 (20.23 KiB) Viewed 51 times

Madrid Corporation has 18,000 shares of $30 par common stock outstanding. On August 2, Madrid Corporation declared a 5% stock dividend to be issued October 8 to stockholders of record on September 15. The market price of the stock was $41 per share on August 2. Journalize the entries required on August 2, September 15, and October 8. If an amount box does not require an entry, leave it blank. If no entry is required, select "No Entry Required and leave the amount boxes blank Aug. 2 Sept. 15 Oct. 8 Common Stock No Entry Required Paid-in Capital in Excess of Par-Common Stock Stock Dividends Distributable Stock Dividends