On January 2, 2019 Company XYZ issued 2,500 shares of $9 par value common stock for cash at $15 per share. The Company declared a cash dividend of $2 per common stock on December 30, 2019 to be paid i

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On January 2, 2019 Company XYZ issued 2,500 shares of $9 par value common stock for cash at $15 per share. The Company declared a cash dividend of $2 per common stock on December 30, 2019 to be paid in March of 2020. At the year end 5,000 Common Stocks were outstanding.  Record the journal entries for the 2 listed events.

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