8. Davis Corporation was just formed. The following accounts of Davis Corporation, with code letters, are needed to record the transactions given below. You are to indicate the appropriate journal entry for each transaction by entering the code letters and the correct amounts. (HINT: Remember that the transactions are all for this company so ensure you take each one into account when considering the next one.) A Cash B Remaining assets C Retained earnings Common shares E Dividends payable F Trade payables G Bonds payable H Preferred shares Treasury stock Other accounts not listed K Dividends declared L No entry needed ID V Credits Code Amount Amount Ex. transaction 1200 D 200 Transaction Debits Code Sold and issued 10 common shares for $200. Disregard in subsequent Sold and issued 6,000 common shares at 1 $26 per share issued a 10% stock dividend when the 2 shares were selling at $29 per share Declared a cash dividend of $1 per share 3 on the shares outstanding Paid the cash dividend of $1 per share 14 declared earlier (see above) issued a 2-for-1 stock split when the 5 market price was $20 per share 4