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Char Corporation had outstanding 100,000 shares of $5 par-value common stock on August 13, 2019. On...

Char Corporation had outstanding 100,000 shares of $5 par-value common stock on August 13, 2019. On that date, it declared a 10 percent common stock dividend distributable on September 15 to stockholders of record on September 1. The estimated fair value of the shares at the time of their issue was $30 per share. Give any general journal entries necessary on August 13, September 1, and September 15, 2019. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.)

  • Record the entry on August 13.
  • Record the entry on September 15.
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