Entries for Selected Corporate Transactions Nav-Go Enterprises Inc. produces aeronautical navigation equipment. Nav-Go Enterprises' stockholders' equity accounts, with balances on January 1, 20Y1, are as follows: $4,800,000 Common Stock, $10 stated value (700,000 shares authorized, 480,000 shares issued) Paid-In Capital in Excess of Stated Value-Common Stock 900,000 Retained Earnings 10,900,000 Treasury Stock (48,000 shares, at cost) 672,000 The following selected transactions occurred during the year: Jan. 15. Paid cash dividends of $0.13 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $56,160. Mar. 15. Sold all of the treasury stock for $17 per share. Apr. 13. Issued 90,000 shares of common stock for $1,620,000. June 14. Declared a 5% stock dividend on common stock, to be capitalized at the market price of the stock, which is $20 per share. July 16. Issued shares of stock for the stock dividend declared on June 14. Oct. 30. Purchased 30,000 shares of treasury stock for $19 per share. Dec. 30. Declared a $0.16-per-share dividend on common stock. 31. Closed the two dividends accounts to Retained Earnings. 1. The January 1 balances have been entered in T accounts for the stockholders' equity accounts Common Stock 4,800,000 Jan. 1 Bal. Apr. 13 July 16 Dec. 31 Bal. 900,000 Paid-In Capital in Excess of Stated Value-Common Stock Jan. 1 Bal. Apr. 13 June 14 Dec. 31 Bal. Retained Earnings Dec. 31 Jan. 1 Bal. 10,900,000 Dec. 31 Dec. 31 Bal. Treasury Stock 672,000 Mar. 15 Jan. 1 Bal. Oct. 30 Dec. 31 Bal. Paid-In Capital from Sale of Treasury Stock Mar. 15 Stock Dividends Distributable June 14 July 16 Stock Dividends Dec. 31 June 14 Cash Dividends Dec. 30 Dec. 31