CALCULATOR PRINTER VERSION W NEXT Problem 14-01A (Part Level Submission) (Video) On lauary 1, 2020, Pharah Corporation had the following stockholders'ulty s. Common Stock (126 par valu, 67,000 shares issued and outstanding) $1,612,000 Pad Capital incess of Panamen Stack 203.000 Reid aming 560,000 During the year, the gracions corred Feb 1 Dedare cash d eshare t h e record on February 15, Myse March 1 Mar. Pad the wind di ary Ar. 1 Announced a t the the market price he was Buy 1 Declared a 15 divided to stockholders of record on 15, M 31. Only, the market price of the stock was 14 per share 31 feed the shares for the stock dividend Dec. 1 Declared a $0.50 are dividend to stockholders of record on December 15, payable January 5, 2021 31 Determined that income for the year was $327,000 Your answer is correct Journalize the transactions and the entries for income and dividends. (Cred "No Entry for the accountries and enter for the amounts Record Journal entre Date res: Account Titles and Explanation Divers D ends Payable pividends Payable Cash Mar. 1 Help System Announcements Apr.1 No Entry PO No Entry July 1 stock Dividends IT 260400 1 Common Stock Dividends Distributable Il 241800 T Pald-in Capital in Excess of Par-Common Stock I I 18600 July 31 Common Stock Dividends Distributable IT 241800 | Common Stock 241800 cash Dividends NJ 85560 ITT LLL 85560 1 Dividends Payable Income Summary Dec. 31 327000 | 13 327000 22553 Retained Earnings (To close net income) Dec 310Retained Earnings Stock Dividends (To close stock dividends) Dec. 312|Retained Earnings 1326040023 260400 209560 209560) Cash Dividends (To close cash dividends) Click if you would like to show Work for this question Open Show Work! 0 Enter the beginning balances, and post the entries to the stockholders' equity accounts. (Note: Open additional stockholders' equity accounts as needed.) ( previous part.) Common Stock Date Explanation Ref Balance Debit Credit Balance Common Stock Dividends Distributable Date Explanation Ref Debit Credit Bala Pald-In Capital in Excess of Par-Common Stock Date Explanation Ref Debit Balance Credit Retained Earnings Date Explanation Ref Balance Net Income Stock dividend Cash dividend Cash Dividends Date Explanation Ref Debit Credit Balance Stock Dividends Date Explanation Ref Debit Credit Balance Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT (c) The parts of this question must be completed in order. This part will be available when you complete the part above