Instructions: Journalize the following transactions for ABC Rug Co.

(Note: It is helpful to keep track of the total outstanding shares.)

January 1, '14, Issued 300 shares of $2 par value common stock for $1,500.

January 15, '14, Issued 100 shares of its stock for a used truck advertised for sale at $900. (The stock is actively traded at a market price of $6 per share.)

April 1, '14, Board of directors declared a 10% stock dividend when the stock has a market price of $8 per share.

April 30, '14, Above stock dividend is distributed.

May 1, '14, Board of Directors declared a 2 for 1 stock split.

July 1, '14, the Company repurchased 60 shares of its common stock for $8 per share.

August 1, '14, they sold 30 of the treasury shares for $10 per share.

September 1, '14, sold 30 treasury shares at $5 per share.

October 31, '14, the board of directors declared a $.20 per share dividend.

November 30, '14 the above dividend is payable to shareholders of record on this day.

December 31, '14 the Company pays the dividends.