Choctaw Company completed the following transactions in Year 1, the first year of operation:

Issued 20,000 shares of $10 par common stock for $10 per share.

Issued 3,000 shares of $20 stated value preferred stock for $20 per share.

Purchased 1,000 shares of common stock as treasury stock for $12 per share.

Declared a $2,000 cash dividend on preferred stock.

Sold 500 shares of treasury stock for $14 per share.

Paid $2,000 cash for the preferred dividend declared in Event 4.

Earned cash revenues of $78,000 and incurred cash expenses of $41,000.

Closed revenue, expense, and dividend accounts to the retained earnings account.

Appropriated $8,000 of retained earnings.

Required a-2. Post the entries to T-accounts.

Options to use while preparing entries:

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2.

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6.

7a.

7b.

8a.

8b.

8c.

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ReqA1ReqA2 Req B Post the entries to T-accounts