Record the following transactions using the general journal:

DateTransaction

2-JanIssued 10,000 shares of Common stock at par.

3-JanIssued 20,000 shares of Common stock at $15 per share.

4-JanEarned and received $500,000.

5-JanPaid the operating expenses $150,000.

6-JanIssued 1,000 shares of Preferred stock at par.

7-JanIssued 2,000 shares of Preferred stock at $52 per share.

8-JanDeclared the regular quarterly dividend of $1 per share cash dividend to be paid to preferred stockholders on 01/09.

9-JanPaid the preferred dividend.

10-JanDeclared a 10% stock dividend on common stock, market price is $22 per share, to be distributed on 01/11.

11-JanDistributed the stock dividend to shareholders of record.

12-JanCorcoran Corp. repurchases 5,000 shares of its' common stock for the treasury at a cost of $20 per share.

13-JanCorcoran Corp. reissued 3,000 treasury shares for $22 each.

14-JanCorcoran Corp. reissued 1,000 treasury shares at $18 per share.

15-JanDeclared the regular quarterly dividend of $1.00 per share dividend on common stock to be paid on 01/16. THINK!

16-JanPaid the common dividend.

31-JanClosed the books.