147. Wheeler Corporation was authorized to issue 100,000 shares of $6 par common stock. During 2016 Wheeler issued 20,000 shares at a market price of $9 per share. On December 1, 2016 Wheeler declared...

147. Wheeler Corporation was authorized to issue 100,000 shares of $6 par common stock. During 2016 Wheeler issued 20,000 shares at a market price of $9 per share. On December 1, 2016 Wheeler declared a cash dividend of $1.25 per share payable on December 30 to stockholders of record as of December 15.

Required: a) Prepare the journal entry for the issuance of the 20,000 shares of stock. Assume an issue date of June 30, 2016.
b) Prepare the journal entries necessary on the dividend:
(1) declaration date.
(2) date of record.
(3) payment date.