1. Charleston Office Supply Corporation completed the following stock issuance transactions:

January 2, 2018	Issued 5,000 shares of $4 stated value common stock for cash of $20 per share
January 31, 2018	Received merchandise inventory with a market value of $46,000 in exchange for 2,000 shares of the $4 stated value common stock when the market price was $22.
March 1, 2018	Issued 450 shares of 5%, $20 par value, cumulative, preferred stock for $50 per share
July 1, 2019	Board declared the full preferred stock dividend.
August 1, 2019	Board declared a $0.20 per share cash dividend on the common stock and the full preferred cash dividend
August 25, 2019	Payment of cash dividend of preferred stock
August 26, 2019	Payment of cash dividend of common stock

1. Prepare the journal entries to record these transactions.