Question 2 - 20 Marks SGIT Corporation Inc. completed the following selected transactions during 2020: Mar. 4 Declared a cash dividend on the 30,000, $1.40 preferred shares. Declared a $0.20 per share cash dividend on the 40,000 common shares outstanding. The date of record was March 15, and the payment date was March 28. Mar. 28 Paid the cash dividends. Apr. 20 Declared a 15 percent stock dividend on the common shares to holders of record on April 29, with distribution set for May 31. The market value of the common shares was $14.00 per share. May 31 issued the stock dividend shares. Jun. 17 Repurchased 3,000 shares of the company's own common shares at $11.00 per share: average issue price was $8.00 per share. Nov. 14 Issued 1,000 common shares for $9.50 per share. Required: Record the transactions in the general journal. Acco Mid T Que Bus COL an Question 3 - 20 Marks The board of directors of Crosby Production Co. Ltd, authorizes the issuance of 4 percent, 10-year bonds with a maturity value of $12,000,000. The semi-annual interest dates are May 31 and November 30. The bonds are issued through an underwriter on June 30, 2020, at par plus accrued interest from June 1, 2020. Crosby's year-end is December 31 Required 1. Journalize the following transactions: a. Issuance of the bonds on June 30, 2020 b. Payment of interest on November 30, 2020 c. Accrual of interest on December 31, 2020, d. Payment of interest on May 31, 2021. 2. Report interest payable and bonds payable as they would appear on the Crosby Production Co. Ltd, balance sheet at December 31, 2020