Entries for Selected Corporate Transactions Nav-Go Enterprises Inc. produces aeronautical navigation equipment. Nav-Go Enterprises' stockholders' equity accounts, with balances on January 1, 2011, are as follows: Common Stock, $10 stated value (550,000 shares authorized, 380,000 shares issued) $3,800,000 Paid-In Capital in Excess of Stated Value-Common Stock 700,000 Retained Earnings 8,630,000 Treasury Stock (38,000 shares, at cost) 532,000 The following selected transactions occurred during the year: Jan. 15. Paid cash dividends of $0.14 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $47,880. Mar. 15. Sold all of the treasury stock for $17 per share. Apr. 13. Issued 70,000 shares of common stock for $1,120,000. June 14. Declared a 4% stock dividend on common stock, to be capitalized at the market price of the stock, which is $18 per share. July 16. Issued shares of stock for the stock dividend declared on June 14. Oct. 30. Purchased 24,000 shares of treasury stock for $19 per share. Dec. 30. Declared a $0.17-per-share dividend on common stock 31. Closed the two dividends accounts to Retained Earnings. 2. Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. Jan. 15. Paid cash dividends of $0.14 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $47,880. Date Account Debit Credit Jan. 15 Mar. 15. Sold all of the treasury stock for $17 per share. Date Account Debit Credit Mar. 15 Apr. 13. Issued 70,000 shares of common stock for $1,120,000 Date Account Debit Credit Apr. 13 June 14. Declared a 4% on common stock, to be capitalized at the market price of the stock, which is $18 per share. Account Debit Credit Date June 14 July 16. Issued stock for stock dividend declared on June 14. Date Account Debit Credit July 16 Oct. 30. Purchased 24,000 shares of treasury stock for $19 per share. Date Account Debit Credit Oct. 30 Dec. 30. Declared a $0.17-per-share dividend on common stock. Date Account Debit Credit Dec. 30 Dec. 31. Closed the two dividends accounts to Retained Earnings Date Account Debit Credit Dec. 31