Journalize the transactions. If no entry is required, select "No Entry Required" from the dropdown box and leave the amount boxes blank. For a compound transaction, if an amount box does not require an entry, leave it blank. Jan. 5. Split the common stock 5 for 1 and reduced the par from $150 to $30 per share. After the split, there were 800,000 common shares outstanding. Date Account Debit Credit Jan. 5. No Entry Required No Entry Required Mar. 10. Purchased 64,000 shares of the corporation's own common stock at $35, recording the stock at cost. Date Account Debit Credit Mar. 10. Apr. 30. Declared semiannual dividends of $4.2 on 60,000 shares of preferred stock and $0.09 on the common stock to stockholders of record on May 15, payable on June 15. Account Debit Credit Date Apr. 30. June 15. Paid the cash dividends. Date June 15. Account Debit Credit Aug. 20. Sold 46,000 shares of treasury stock at $39, receiving cash. Date Account Debit Credit Aug 20. Oct. 15. Declared semiannual dividends of $4.2 on the preferred stock and $0.15 on the common stock (before the stock dividend). Date Account Debit Credit Oct. 15. Oct. 15. A 2% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $41. Date Account Debit Credit Oct. 15. Dec. 19. Paid the cash dividends. Account com Debit Date Dec. 19. Credit Dec. 19. Issued the certificates for the common stock dividend. Date Account Debit Credit Dec. 31. 2. Assume the partner with the capital deficiency declares bankruptcy and is unable to pay the deficiency. a. Journalize the entry to allocate the partner's deficiency. For a compound transaction, if an amount box does not require an entry, leave it blank. ACCOUNT DEBIT CREDIT b. Journalize the entry to distribute the remaining cash. For a compound transaction, if an amount box does not require an entry, leave it blank. ACCOUNT DEBIT CREDIT