Cone Company had the following transactions related to its ...

No journal entry is made, but a memorandum is recorded. The number of shares issued and outstanding doubles to 210,000, and the new par value is be $0.50 per share. December 31: Declared cash dividend of $1.50 per share, payable February 15, 2003. Account Debit Credit Retained Earnings 315,000 Dividend Payable 315,000 ................
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