journal entry

Project Description:

journalize the following entries.

the following selected transactions occurred during the year:

jan. 19 paid cash dividends of $0.60 per share on the common stock. the dividend had been properly recorded when declared on december 28 of the preceding fiscal year for $31,500.
feb. 2 sold all the treasury stock for $150,000.
mar. 15 issued 20,000 shares of common stock for $480,000.
july 30 declared a 2% stock dividend on common stock, to be capitalized at the market price of the stock, which is $25 a share.
aug. 30 issued the certificates for the dividend declared on july 30.
oct 10 purchased 5,000 shares of treasury stock for $105,000
dec. 30 declared a $0.50 per-share dividend on common stock.
dec. 31 closed the credit balance of the income summary account, $182,500.
dec. 31 closed the two dividends accounts to retained earnings.
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