PlasticTech, Inc. completed the following transactions during the current year.

Instructions:

Journalize the transactions. Use page 8 of a general journal and page 21 of a cash payments journal. Source documents are abbreviated as follows: check, C; memorandum, M.

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Transactions: Aug. 12. Plastic Tech's board of directors declared an annual dividend of $180,000.00. Preferred stock issued is $500,000.00 of 10%, $100.00 par-value preferred stock. Common stock issued is $1,000,000.00 of $1,000.00 stated-value common stock. Date of payment is November 15. M65. Nov. 15. Paid $180,000.00 cash for annual dividend declared August 12. C139.