On January $1,2022,$ Blossom Corporation had the following stockholders' equity accounts.

During the year, the following transactions occurred.

Feb. $1$ Declared a $$3$ cash dividend per share to stockholders of record on February $15,$ payable March $1.$

Mar. $1$ Paid the dividend declared in February.

Apr. $1$ Announced a $2-$for$-1$ stock split. Prior to the split, the market price per share was $$35.$

July $1$ Declared a $10\%$ stock dividend to stockholders of record on July $15,$ distributable July $31.$ On July $1,$ the market price of

the stock was $$15$ per share.

$31$ Issued the shares for the stock dividend.

Dec. $1$ Declared a $$0\mathrm{.}30$ per share dividend to stockholders of record on December $15,$ payable January $5,2023.$

$31$ Determined that net income for the year was $$361,500.$ Journalize the transactions and the closing entries for net income and dividends. $($Credit account titles are automatically indented

when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the

amounts. Record journal entries in the order presented in the problem.$)$

Account Titles and Explanation

Debit

Credit

Cash Dildends

Dividends Payable

Dlvidends Payable

Common Stock DlVidends Distrlbutable

Fald$-$In Capltal In Excess of Par$-$Common Stock

Common Stock Dividends Distributable

Common Stock

Cash Dividends

$361500$

i

$1$

$166500$ equity accounts as needed.$)($Post entries in the order of journal entries presented in the previous part.$)$

Common Stock Dividends Distributable Cash Dividends

Stock Dividends

Date Explanation

Ref

Debit

Credit

Balance

July $1$

$$

$$

Dec $31$

$$

$$