Entries for discounting notes payable Instructions Instructions Ramsey Company issues an $600,000, 45-day note to Buckner Company for merchandise inventory. Buckner discounts the note at 4%. Required: A Journalize Ramsey's entries to record (refer to the company's Chart of Accounts for exact wording of account titles): 1. the issuance of the note on January 1. 2. the payment of the note at maturity. Assume a 360-day year. B. Journalize Buckner's entries to record (refer to the company's Chart of Accounts for exact wording of account titles): 1. the receipt of the note on January 1. 2. the receipt of the payment of the note at maturity. Assume a 360-day X Dividends Per Share Lightfoot Inc., a software development firm, has stock outstanding as follows: 20,000 shares of cumulative preferred 2% stock, $20 par, and 25,000 shares of $125 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $3,000; second year, $5,000; third year, $36,000; fourth year, $76,000 Calculate the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "O". 1st Year Preferred stock (dividend per share) Common stock (dividend per share) 2nd Year