Abvanced Uife. Co, ts an HmO for businesses in the Abuquerque area. The following account balances appear on the balance stieet of Advanced Life Co: Common stock (9co, 000 shares authotbod. the inaket price of the stock was 512 a share. Advanced Life Co reported no incorne or loss for the curnent year Required: *. Journalize the enties to recoord (t) the deciaration of the dividend on December 1, chpiaizing an amoun equar to mancer vatie, and (2) me isstrance at the stock certicates on December 31. fiefer to the chart or accounts for me ekast worang of the account culea. GNow oumats do not use unes for journa explanations Every ane on a journa page is used tor deor or credt enties. CNow joumals ww automancaly madent a credt endy whed a ceedr amount is entered CHART OF ACCOUNTS Advanced Life Co. General Ledger ASSETS 110 Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 151 Prepaid Insurance 181 Land 193 Equipment 194 Accumulated Depreciation-Equipment REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Merchandise Sold 515 Credit Card Expense 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Selling Expenses 534 Rent Expense Chart of Accounts LIABILITIES 210 Accounts Payable 221 Notes Payable 226 Interest Payable 231 Cash Dividends Payable 241 Salaries Payable 261 Mortgage Note Payable EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Paid-In Capital from Sale of Treasury Stock 340 Retained Earnings 535 Insurance Expense 536 Office Supplies Expense 537 Organizational Expenses 562 Depreciation Expense-Equipment 590 Miscellaneous Expense 710 Interest Expense EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Paid-In Capital from Sale of Treasury Stock 340 Retained Earnings 350 Stock Dividends Distributable 351 Cash Dividends 352 Stock Dividends