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Question 15 Arabian Gulf Corporation reports the following stockholders equity section on December 31, 2020 -Common stock: $10 par value; 700,000 shares authorized; 300.000 shares issued and outstanding -Paid in capital in excess of par value, common stock $3,000,000 400,000 900.000 -Retained earnings.. Total $4,300,000 The Corporation completed the following transactions in 2021. -Jan. 10, Directors declared a $1 per share cash dividend payable on March 15 to the Jan 31 stockholders of record. -Mar 01, Purchased 30,000 shares of its own common for $15 per share. -Mar. 31, Paid the cash dividend declared on Jan. 10. -May 01, Sold 10,000 of its treasury shares at $15 cash per share. -Sep 30, Directors declared a 30% stock dividend when the share market price is $16. Nov 01, Distributed stock dividends declared on Sep. 30. Nov 15, The company implemented 5-for-1 stock split for the common stock Required: Prepare journal entries to record each of these transactions for 2021. CLEARLY INDICATE THE DEBETS & CREDITS Example XYZ Company pays $10,000 cash to pchose land De Laod 10,000 CV Cal 20,000 For the toolbar, press ALT-E10 (PC) or ALT+IN+F10(Mac) BIVS Paragraph IM Arial 10pt E !!! P 2 I X a 52 FREE 1244 7 point