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A corporation reported the following information at December 31, 2019: 
A)On December 31, 2019, the board of directors issues a 3-for-1 stock split. What impact will the split have on the stock's par value?
B)What journal entry is required to record the split?
C)Record the declaration of a cash dividend of $1 per share on January 10, 2020. The dividend will be paid on January 31, 2020 to shareholders of record on January 24, 2020.
Correct Answer:
Verified
Correct Answer:
Verified
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