5. On Apr. 1 Madison, Inc. declared $150,000 for cash dividends. Preferred dividends in arrears totaled $15,000 (last year) and preferred for the current year is also $15,000. Common stock holders receive the remainder. Journalize the Apr. 1 declaration and the Apr. 30 payment. 6. On Sept. 1, Baylee Inc. purchases 20,000 shares of its own stock for $4 per share. On Oct. 4, Baylee, Inc. sold 5,000 shares of its treasury stock for $9 per share. Journalize the Sept. 1 and Oct. 4 transactions. 7. On Nov. 30, Baylee, Inc. sold 2,000 shares of treasury stock for $3.00 per share. Journalize this transaction. 8, Lucy Co. declared a 10% stock dividend on its 100,000 outstanding shares of $4 par value common stock. The fair market value of the stock is $12. Journalize the declaration and issue of this stock 9. Attorneys billed Lucy Co. $12,500 for services rendered. They agreed to accept 10,000 shares of $1.00 par value stock. Journalize this event