Journalize the following selected transactions completed during the current fiscal year:

Jan 3 The board of directors reduced the par of common shares from $100 to $20. This action increased the number of outstanding shares to 400,000.

Jan 22 Declared a dividend of $2.00 per share on the outstanding shares of common stock.

Feb 8 Paid the dividend declared on January 22.

Sep 1 Declared a 5% stock dividend on the common stock outstanding (the fair market value of the stock to be issued is $30).

Oct 1 Issued the certificates for the common stock dividend declared on September 1.