Lee Company has the following capital structure:Common stock, $1 par, 100,000 shares issued and outstandingOn...
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Accounting
Lee Company has the following capital structure:Common stock, $ par, shares issued and outstandingOn October the company declared a common stock dividend when the market price of the common stock was $ per share. Of the stock dividend shares, were whole shares and were fractional shares. The companys policy is to pay cash to shareholders for fractional shares. The stock dividend will be distributed on October to stockholders on record on October Upon declaration of the stock dividend, Lee Company would recordSelect one:a A debit to Retained Earnings for $b A credit to Dividends Payable for $c A credit to Paidin Capital in Excess of ParCommon Stock for $d A credit to Common Stock for $
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