Dividends and bonds payable

Section D-Dividends And Bonds Payable Part A (6 Marks) During the year the following transactions took place 1 January 1, 2019 issued 7,000 shares at $20 per share cash. 2. Feb 8, 2019 issued 3,000 common shares at $15 cash 3. March 8, 2019 declared $0.50 dividend for each common share issued and outstanding for the date of record May 10, 2019 to be paid on June 10, 2019 Instructions a) Prepare the journal entries to record the transactions (5 Marks). b) Determine the number of shares outstanding (1 Mark). Part B (6 Marks) On January 1, 2019 Edmonton co. issued $100,000 worth of bonds at par value for cash. The Bonds coupon rate 12% paid annually each January 1 until maturity in Jan 1. 2030. Required: 1- Record all Journal entries required during 2019 2- Record all Journal entries required during 2020 3- Record the payment (retirement) of the Bonds on Jan 1, 2030 the maturity date