On September 15, 2023, the Board of Directors of Sunland Company declared a $1.20 per share cash dividend, payable on October 31 to shareholders of record as of October 1. On the date of declaration, Sunland Company had 202,000 common shares issued, of which 31,000 were held in Treasury. On October 15, 2023, the company issued an additional 57,000 common shares for $5.20 each. Prepare all the required journal entries to record these transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit
On September 15, 2023, the Board of Directors of Sunland Company declared a $1.20 per share cash dividend, payable on October 31 to shareholders of record as of October 1. On the date of declaration, Sunland Company had 202,000 common shares issued, of which 31,000 were held in Treasury. On October 15, 2023, the company issued an additional 57,000 common shares for $5.20 each. Prepare all the required journal entries to record these transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On September 15, 2023, the Board of Directors of Sunland Company declared a $1.20 per share cash dividend, payable on October 31
to shareholders of record as of October 1. On the date of declaration, Sunland Company had 202,000 common shares issued, of which
31,000 were held in Treasury. On October 15, 2023, the company issued an additional 57,000 common shares for $5.20 each.
Prepare all the required journal entries to record these transactions. (List all debit entries before credit entries. Credit account titles are
automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and
enter o for the amounts. Record journal entries in the order presented in the problem.)
Date
Account Titles and Explanation
Debit
Credit
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