1. On Oct 1, 2020, Mia Corporation had 90,000 shares of $5 par value common stock issued and outstanding. During the year, the following transactions occurred:

Oct 15

Issued 30,000 shares of common stock at $15.

Dec 1

Declared a cash dividend of $3.00 per share to stockholders of record on December 15.

Dec 30

Paid the cash dividend.

Dec 31 Net Income for the year, $2,050,000

Instructions

Prepare journal entries to record the above transactions (Oct. 15, december 1, 15 and 30)