Duke Corporation reports the following components of stockholders equity on December 31, 2014:

Common stock$5 par value, 100,000 shares authorized, 50,000 shares issued and outstanding	$250,000
Paid-in capital in excess of par value, common stock	60,000
Retained earnings	460,000
Total stockholders equity	$770,000

In 2015, the following transactions affected its stockholders equity accounts:

Jan. 1

Purchased 4,500 shares of its own stock at $27 cash per share.

Jan. 5

Directors declared a $3 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record.

Feb. 28

Paid the dividend declared on January 5.

Mar. 3

Sold 1,000 shares of treasury stock for $28 per share.

May 25

Sold 1,000 shares of treasury stock for $16 per share.

June 15

Directors declared a $1.50 per share cash dividend payable on July 15 to the June

30 stockholders of record.

July 15

Paid the dividend declared on June 15.

Instructions: Prepare journal entries to record each of the transactions for 2015