December 20 ACME issued 50 shares of $10 par stock for $40 per share for cash. Prepare the adjustment to record the issuance of stock below. 6) Date Account description Debit Credit 7) ACME purchased supplies for $1,850 cash on December 21. Date Account description Debit Credit On December 21 ACME received $2,500 in cash as an advance payment for merchandise to be 8) delivered next month. Date Account description 9) On December 23 ACME paid in cash the December utility bill of $1,950 Date Account description Debit Credit On December 23, 2021 the board of directors declared dividend of $4.50 per share on its 170 issued and outstanding shares to shareholders of record on January 16, 2022 and payable on February 16, 2022. (Note that the company uses a dividends general ledger account to record its dividend payments during the year rather than recording the dividends directly to retained earnings. 10) Be sure to use that account!) Date Account description Debit Credit On December 28 ACME paid their employees $4,250 for the pay period ending December 23. The 11) salary expense has already been accrued into salaries payable. Date Account description Debit Credit 2 of 17