Some of the transactions of Alamo Air Service, Inc., during this follows:

Instructions Record these transactions in general journal form.
Check Figure Adjusting entry, $43,920

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Mar. 15 Paid the balance due on the previous year's federal income tax, $22,500. Apr. 15 Paid $38,520 for the first quarterly installment of estimated federal income tax for this year. June 15 Paid $38,520 for the second quarterly installment of estimated fed- eral income tax for this year. July 12 Declared a cash dividend of $50,400 ($5.04 per share on 10,000 shares, $60 par value) to stockholders of record as of July 22, pay- able on August 7. Aug. 7 Sept. 15 Paid the cash dividend. Paid $38,520 for the third quarterly installment of estimated federal income tax for this year.