February 3 rd Sold 490 units to Murphy Corp . for $60 per unit , on credit . March 2nd Received the outstanding balance from Murphy Corp . March 17 th Sold 300 units to Mahoney Bros . for $60 per unit , on credit . March 31 st Declared and paid a cash dividend of $0. 50 per share . April 6 th Received the outstanding balance from Mahoney Bros . June 30 th Paid their semi - annual interest payment on the bonds issued on January 1 st . July 1 st Declared and distributed a 10% stock dividend ( The market value of the company's stock on July 1 st was $9 a share ) . July 1 1 th Purchased 1 , 250 units of inventory from Shaw Corp . at $40 per unit , on credit . July 23 rd Paid Shaw Corp . for the goods purchased on July 1 1th . August 17 th Issued an additional 5, 000 shares of common stock for $ 1 1 a share