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b During the year, the corporation completed a number of transactions affecting the stockhokoreguly. They are summarized as follows: * Issued 532,900 shares of common

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b During the year, the corporation completed a number of transactions affecting the stockhokoreguly. They are summarized as follows: * Issued 532,900 shares of common stock at $9, receiving cash. Issued 11,000 shares of preferred 1% stock at $58. Purchased 45,400 shares of treasury common for $8 per share. Sold 21,400 shares of reasury common for $10 per share. Sold 4,300 shares of treasury common for $7 per share. Declared cash andands of $0.50 per share on preferred stock and $0.07 per share on common stock. Paid the cash dividends. Journalize the entries to record the transactions. Refer to the Chart of Accounts for exact wording of account titles. Jeomace the ones to record se rotections on December 31. Refer to w twt of Account Desset worting of accountries PC JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST, LABILITIES EQUITY 3 2 3 . 11 1 25 11 REVENUE 410 Sales 610 Interest Revenue ASSETS 110 Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Inventory 145 Office Supplies 151 Prepaid Insurance 181 Land 193 Equipment 194 Accumulated Depreciation-Equipment EXPENSES 510 Cost of Goods Sold 515 Credit Card Expense 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Selling Expenses 151 Prepaid Insurance 181 Land 193 Equipment 194 Accumulated Depreciation Equipment LIABILITIES 210 Accounts Payable 221 Notes Payable 226 Interest Payable 231 Cash Dividends Payable 241 Salaries Payable 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Selling Expenses 534 Rent Expense 535 Insurance Expense 536 Office Supplies Expense 537 Organizational Expenses 562 Depreciation Expense-Equipment 590 Miscellaneous Expense 710 Interest Expense EQUITY 236 Stock Dividends Distributable 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 351 Cash Dividends 352 Stock Dividends

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