4. On January 1, 2015, James Corporation had 60,000 no par value common shares issued at $1 per share. During the year, the following transactions occurred: Mar. 1 Issued 40,000 common shares for $600,000. June 1 Declared a cash dividend of $2 per share to shareholders of record on June 15. June 30 Paid the $2 cash dividend. Dec. 15 Declared a 10% stock dividend to shareholders of record on December 31. On December 15, the shares were trading for $17. Prepare journal entries to record the above transactions. (10 marks)