(20 POINTS) On January 1, 2012, Magnus Corporation had 60,000 shares of $1 par value common outstanding. During the year, the following transactions occurred Mar. 1 Issued 25,000 shares of common stock for $550,000. June 1 Declared a cash dividend of $2.00 per share to stockholders of record on June 15 June Dec. Dec. 30 1 15 Paid the $2.00 cash dividend. Purchased 5,000 shares of common stock for the treasury for $22 per share. Decla red a cash dividend on outstanding shares of $2.25 per share to stockholders of record on December 31. Instructions Prepare journal entries to record the above transactions