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eBook @ Aggregate Mining Corporation was incorporated five years ago. It is authorized to issue...

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eBook @ Aggregate Mining Corporation was incorporated five years ago. It is authorized to issue 500,000 shares of $100 par value 6% preferred stock. It is also authorized to issue 800,000 shares of $1 par value common stock. It has issued only 50,000 of the common shares and none of the preferred shares. In its seventh year, the corporation has the following transactions: Dedares a cash dividend of $5 per share, Mar. 30 Pays the cash dividend, Jul, 10 Declares a property dividend of 1/2 ton of limestone per share when the price of limestone is $25 perton, Mar. 1 Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank Mar. 1

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