1.(12 pts) Woods Company reported the following amounts in the stockholders equity section of its December 31, 2016, balance sheet.

Preferred stock, 10%, $100 par value

(10,000 shares authorized, 2,000 shares issued) $ 200,000

Common stock, $5 par value

(100,000 shares authorized, 20,000 shares issued) 100,000

Paid-in Capital in Excess of Par Preferred Stock 20,000

Paid-in Capital in Excess of Par Common Stock 360,000

Total paid-in capital 680,000

Retained earnings 450,000

Total stockholders' equity $1,130,000

During 2017, Woods took part in the following transactions concerning stockholders equity.

May 4	Issued 25,000 shares of common at $27 per share.
June 30	Woods declared and issued a 10 percent common stock dividend. Fair value is currently $28 per share. Hint: this is a small stock dividend.
Sep. 10	Purchased 4,000 shares of its own outstanding common stock for $27 per share. Woods uses the cost method for treasury stock transactions.
Oct. 1	Sold 1,000 shares of treasury stock at $28 a share
Nov. 15	Sold an additional 2,500 shares of treasury stock at $24 a share
Dec. 8	The preferred stock cash dividend is declared, and a common stock cash dividend of $.40 per share is declared.

Provide the journal entries at the following dates.

May 4

June 30

September 10

October 1

November 15

December 8