The statement of cash flows of Smoothie, Inc., reported the following (adapted) for the year ended December 31, 2010:Cash flows from financing activities (amounts in millions)Cash dividends paid …………………………………………………. $(1,890)Issuance of common stock at par value……………………….. 1,234Proceeds from issuance of long-term notes payable ……… 58Purchases of treasury stock………………………………………… (3,080)Payments of long-term notes payable………………………….. (162)Requirement1. Make the journal entry that Smoothie would use to record each of these transactions.View Solution:
The statement of cash flows of Smoothie Inc reported the