Presented below is selected information related to Solid Signal 5G Cable Company for the 2020 year:

1. April 1, 2020: The company is granted a charter that authorizes issuing, over time, 75,000 shares of 6% $100 par value non-cumulative preferred stock, and 400,000 shares of $10 par value common stock.
2. April 10, 2020: 25,000 shares of common stock were initially issued for a combined value totaling $750,000 determined as follows: land with an appraised value of $450,000 and cash of $300,000.
3. July 1, 2020: 10,000 shares of preferred stock were issued for cash at $108 per share.
4. August 1, 2020: An additional 100,000 shares of common stock were issued for $35 per share.
5. September 1, 2020: The board of directors authorized and declared an 8% Common Stock Dividend to be distributed in 30 days. On the day of declaration, the stock was trading among outside investors in the market at $37 per share.
6. . October 1, 2020: The common stock dividend was distributed.

Instructions

Prepare the general journal entries necessary to record the above events.