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During the year, the company completed these transactions: June 6 Purchased 1,000 shares of treasury stock at $40 per share. 23 The directors voted a
During the year, the company completed these transactions: June 6 Purchased 1,000 shares of treasury stock at $40 per share. 23 The directors voted a $0.50 per share cash dividend payable on July 25 to the July 20 stockholders of record. July 25 Paid the dividend declared on June 23 . Aug. 10 Sold 500 of the treasury shares at $45 per share. Oct. 20 Sold 500 of the treasury shares at $38 per share. Dec. 15 The directors voted a $0.50 per share cash dividend payable on January 20 to the January 15 stockholders of record, and they voted a 2% stock dividend distributable on January 30 to the January 20 stockholders of record. The market value of the stock was $40 per share. 31 Closed the Income Summary account and carried the company's $60,000 net income to Retained Earnings. Required: 1. Complete the general journal entries to record the transactions
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