1. Journalize the selected transactions. Refer to the Chart of Accounts for exact wording of account titles. Scroll down for journal page 11. Note: on May 16 record the declaration of dividends for common shares and the declaration of dividends for preferred shares as two separate entries.

Instructions Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y8, were as follows: Record on journal page 10: Issued 15,000 shares of $20 par common stock at $30, receiving cash. Issued 4,000 shares of $80 par preferred 5% stock at $100, receiving cash. Issued $500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. Declared a quarterly dividend of $0.50 per share on common stock and $1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding Paid the cash dividends declared on May 16. Purchased 8,000 shares of treasury common stock at $33 per share. Declared a $1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. Jan. Feb. May 3 15 1 16 26 8 30 Jun. Jul. 1 Paid the cash dividends to the preferred stockholders