Chart of Accounts Journal Instructions Selected transactions completed by Primo Discount Corporation during the current fiscal year are as follows: Jan. 9 Split the common stock 3 for 1 and reduced the par from $75 to $25 per share. After the split, there were 1,275,000 common shares outstanding. Purchased 41,300 shares of the corporation's own common stock at $29, recording the stock at cost. Declared semiannual dividends of $0.75 on 70,400 shares of preferred stock and $0.11 on the common stock to stockholders of record on June 1, payable on July 10 Feb. 28 May 1 dends. Jul. Sep. 7 Sold 31,900 sharestreasury stock at $33, receiving cash. Oct. 1 Declared semiannual dividends of $0.75 on the preferred stock and S0.11 on the common stock (before 10 Paid the the stock dividend). In addition, a 2% common stockdividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $38 Paid the cash dividends and issued the certificates for the common stock dividend. Dec. 1 Journalize the transactions. if no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account tities Journal