Arabian Gulf Corporation reports the following stockholders' equity section on December 31, 2020 - Common stock; $10 par value; 500,000 shares authorized; 300,000 shares issued and outstanding - Paid in capital in excess of par value, common stock $3,000,000 ..400,000 900,000 $4,300,000 - Retained earnings..... Total The Corporation completed the following transactions in 2021. 1-Jan 10, Directors declared a $1 per share cash dividend payable on March 15 to the Jan. 31 stockholders of record 2- Mar 01, Purchased 20,000 shares of its own common for $15 per share 3- Mar. 31, Paid the cash dividend declared on Jan. 10. 4-May 01, Sold 12,000 of its treasury shares at $15 cash per share 5- Sep 30, Directors declared a 30% stock dividend when the share market price is $16. 6- Nov 01, Distributed stock dividends declared on Sep. 30. 7- Nov 15, The company implemented 5-for-1 stock split for the common stock. Required: Prepare journal entries to record each of these transactions for 2021. CLEARLY INDICATE THE DEBITS & CREDITS Example: XYZ Company pays $10,000 cash to purchase land Answer Dr. Land 10,000 Cr. Cash 10,000 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Y Arial 10pt E E AI X00