Entries for selected corporate transactions Journal Instructions Selected transactions completed by Primo Discount Corporation during the current fiscal year are as follows: Split the common stock 3 for 1 and reduced the par from $75 to $25 per share. After the split, there were 1,275,000 common shares outstanding. Purchased 41,300 shares of the corporation's own common stock at $29, recording the stock at cost. Declared semiannual dividends of $0.75 on 70,400 shares of preferred stock and $0.11 on the common stock to stockholders of record on June 1, payable on July 10. Paid the cash dividends. Sold 31,900 shares of treasury stock at $33, receiving cash. Declared semiannual dividends of $0.75 on the preferred stock and $0.11 on the common stock (before the stock dividend). In addition, a 2% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $38. Paid the cash dividends and issued the certificates for the common stock dividend. Jan. 9 Feb. 28 May 1 Jul. Sep. oct. 10 7 1 Dec. 1 Cap. 15 pdf ^ BIOL-31 15 Cap. 14 pdf ^ BIOL-3 11 5 Cap. 13 pdf BIOL-3115 Cap. 10.-pdf