On January 1, Guillen Corporation had 96,500 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.

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Question: On January 1, Guillen Corporation had 96,500 shares of no-par common stock issued and outstanding…
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Apr. 1 Issued 24,900 additional shares of common stock for $18 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 2,600 additional shares of common stock for $18 per
share.
15 Declared a cash dividend on outstanding shares of $3.50 per
share to stockholders of record on December 31.

(a)

Prepare the entries, if any, on each of the three dividend
dates.

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