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Question: Patrick Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During …
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Show transcribed image text Patrick Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During 2016, the company has the following stock transactions. Jan. 15 Issued 700,000 shares of stock at $7 per share. Sept. 5 Purchased 20,000 shares of common stock for the treasury at $8 per share. Dec. 6 Declared a $0.50 per share dividend to stockholders of record on December 20, payable January 3, 2017. Journalize the transactions for Patrick Corporation. (Credit account titles are automatically indented when the amount is entered. Do not indent ma select "No Entry" for the account titles and enter 0 for the amounts.)

Patrick Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During 2016, the company has the following stock transactions. Jan. 15 Issued 700,000 shares of stock at $7 per share. Sept. 5 Purchased 20,000 shares of common stock for the treasury at $8 per share. Dec. 6 Declared a $0.50 per share dividend to stockholders of record on December 20, payable January 3, 2017. Journalize the transactions for Patrick Corporation. (Credit account titles are automatically indented when the amount is entered. Do not indent ma select "No Entry" for the account titles and enter 0 for the amounts.)

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