Comprehensive Problem 4 Part 1: Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y8, were as follows: 1. Journalize the selected transactions. If no entry is required, select "No entry required" from the dropdown and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. a. Issued 15,000 shares of $20 par common stock at $30, receiving cash. Description Cash Common Stock Paid-In Capital in Excess of Par-Common Stock Debit Credit 450,000 300,000 150,000 b. Issued 4,000 shares of $80 par preferred 5% stock at $100, receiving cash. Description Cash Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock Debit Credit 400,000 500,000 20,000 c. Issued $500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. Cash Description Bonds Payable Premium on Bonds Payable Debit 520,000 Credit 500,000 20,000 d. Declared a quarterly dividend of $0.50 per share on common stock and $1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. Journalize the common stock and the preferred stock entries separately. Description Debit Credit Cash Dividends 50,000 Cash Dividends Payable 50,000 Common stock Cash Dividends 20,000 Cash Dividends Payable 20,000 Preferred stock e. Paid the cash dividends declared in (d). Description Cash Dividends Payable Cash Debit Credit 70,000 70000 f. Purchased 8,000 shares of treasury common stock at $33 per share. Description Cash Cash Debit Credit g. Declared a $1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. Credit Description Cash Dividends Debit Cash h. Paid the cash dividends to the preferred stockholders. Description Cash Cash Debit Credit i. Sold, at $38 per share, 2,600 shares of treasury common stock purchased in (f). Description Cash Cash Cash Debit Credit j. Recorded the payment of semiannual interest on the bonds issued in (c) and the amortization of the premium for six months. The amortization is determined using the straight- line method. Description Debit Credit Bonds Payable Bonds Payable Bonds Payable