Entries for Cash Dividends The declaration, record, and payment dates in connection with a cash dividend of $135,000 on a corporation's common stock are January 12, March 13, and April 12. Journalize the entries required on each date. If no entry is required, select "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. Jan. 12 Mar. 13 II II II II II II Apr. 12 Selected Dividend Transactions, Stock Split Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows: Journalize the transactions If no entry is required, select "No Entry Required' and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. Jan. 8. Split the common stock 2 for 1 and reduced the par from $60 to $40 per share. After the split, there were 150,000 common shares outstanding Jan. Apr. 30. Declared semiannual dividends of $0.75 on 18,000 shares of preferred stock and $0.26 on the common stock payable on July 1. Apr. 30 July 1. Pald the cash dividends, July 1 Oct. 31. Declared semiannual dividends of $0.75 on the preferred stock and $0.14 on the common stock (before the stock dividend). In addition, a 5% common stock dividend was dedared on the common stock outstanding. The fair market value of the common stock is estimated at $52. Cash dividends Stock dividends Dec. 31. Paid the cash dividends and issued the certificates for the common stock dividend. Payment Issuance Selected Stack Transactions Alpha Sourds Corp., an electric guitar retailer, was organized by Michele Kirby, Paul Glenn, and Gretchen Northway. The charter authorized 1,000,000 shares of common stack with a par ef $1. The following transactions affecting stockholders' equity were completed during the first year of operations: Journalize the entries to record the transactions, a. Issued 100,000 shares of stock at par to Paul Glenn for cash. If an amount box does not require an entry, leave it blank. b. (1) Issued 3,000 shares of stock at per to Michele Kirby for promotional services provided in connection with the organization of the corporation, and (2) issued 45,000 shares of stock at par to Michele Kirby for cash. If an amount box does not require an entry, leave it blank. (1) () c. Purchased land and a building from Gretchen Northway in exchange for stock issued at par: The building is mortgaged for $180,000 for 20 years at 6%, and there is accrued interest of $5,200 on the mortgage note at the time of the purchase. It is agreed that the land is to be priced at $60,000 and the building at $225,000 and that Gretchen Northway's equity will be exchanged for stock at par. The corporation agreed to assume resporsibility for paying the mortgage note and the accrued interest. If an amount bax does not require an entry leave it blank. IIIII 11111