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Entries for Selected Corporate Transactions Morrow Enterprises inc, manufactures bathroam fixtures. The stockholders' equity accounts of Morrow Enterprises inci, with balances on January 1 , 20 's, are as follows: The following selected transactions occurred during the year! Jan. 22. Paid cash dividends of 50.14 per share on the common stock. The dividend had been properly recarded when declared on December 1 of the preceding fiscal year for $47,380. Apr. 10. 1ssued 70,000 shares of commen stock for $1,260,000. June 6. Sold ail of the tressury stock for $646,000. 3uly 5. Deciared a 4W steck dividend on common stock, to be cagitalized at the market price of the stock, which is $20 per share: Aug. 15. Issued the certicates for the divilend declared on July 5. Nov. 23. Purchased 24,000 shares of treatury stock for $456,000, Dec. 28. Declared a \$0.17-per-share dividend on common stock. 31. Closed the credit balance of the income summary account, $8,975,000. 31. Closed the two dividends accounts to Retained Earnings. Paid-In Capital in Excess of Stated Value-Common Stock Paid-In Capital from Sale of Treasury Stock Stock Dividends Distributable 2. Jsurnaize the entres to record the transections. For a cempound tranchation, it an amount bor does fot repaire an entry, Ieave a bank Apr. 19. 1sautd 70, ,000 shares of oommon steak 1or $1,260,000 June 6. 5011 al of ve treacury stsck dor $46600. July 5. Dedared a 4% stock dividend ca common stock, to be capitalised at the market price of the stock, which is $20 per share. Aug. 15. Issued the certificates for the dividend declared on July $. Now, 23. Purchased 24,000 shares of treasury stock tor $456,000 : Nov. 23. Purchased 24,000 shares of treasury stock for $456,000. Dec, 28. Declared a \$0.17-per-share dividend on common stock. Dec. 31. Ciosed the credit balance of the income summary account, 48,975,000 : 4. Prepare the Stockholders' Equity section of the December 31,205, balance sheet