A company issues 30 000 ordinary shares on 30 April 2009 for $20 per share. On 1 October 2009 the company purchases 5000 of its own shares for $110 000 to hold as treasury shares. On 30 November 2009, the company’s board of directors declared a dividend of $0.30 per share, which was paid on 15 December 2009.

Required: Record the journal entries for the issuance of the shares, assuming that the shares had no par value. Also record the journal entries for the declaration and payment of the dividend.