journal entries

EXAM - mheducation.com/ext/map/index.html?_con=con&external browser=08launchUrl=https* 253A$62526%%252Fnewconnect.mheducation.com%252F#/activity/question-gr EXAM 8 Saved Help Save & Exit Westby Corp., a high school uniform manufacturer, was authorized to issue an unlimited number of common shares. During January 2020. Its first month of operations, the following selected transactions occurred, Jan. 1 1,083 shares were issued to the organizers of the corporation. The total value of the shares was determined to be $12, 380. 5 15, 080 shares were sold to various shareholders for $19.80 each. 15 The board of directors declared a cash dividend of $0.78 per common share to shareholders of record on January 19, payable January 31. 20 4, 380 shares were issued in exchange for land valued at $49, 200. The shares were actively trading on this date at $11. 80 per share. 31 Closed the Income Summary account, which showed a credit balance of $168, 909. 31 Paid the dividends declared on January 15. Required: a. Journalize the above transactions. The Company does not use a Cash Dividends Account. View transaction list View journal entry worksheet No Date General Journal Debit Credit