Entries for selected corporate transactions

West Yellowstone Outfitters Corporation manufactures and distributes leisure clothing. Selected transactions completed by West Yellowstone Outfitters during the current fiscal year are as follows:

Jan. $15.$ Split the common stock $4$ for $1$ and reduced the par from $$120$ to $$30$ per share. After the split, there were $800,000$ common shares outstanding.

Mar. $1.$ Declared semiannual dividends of $$0\mathrm{.}25$ per share on $100,000$ shares of preferred stock and $$0\mathrm{.}07$ per share on the $800,000$ shares of $$30$ par common stock to stockholders of record on March $31,$ payable on April $30.$

Apr. $30.$ Paid the cash dividends.

May $31.$ Purchased $60,000$ shares of the corporation's own common stock at $$32,$ recording the stock at cost$.$

Aug. $17.$ Sold $40,000$ shares of treasury stock at $$38,$ receiving cash.

Sept. $1.$ Declared semiannual dividends of $$0\mathrm{.}25$ per share on the preferred stock and $$0\mathrm{.}09$ per share on the common stock $($before the stock dividend$).$ In addition, a $1\%$ common stock dividend was declared on the common stock outstanding, to be capitalized at the fair market value of the common stock, which is estimated at $$40.$

Oct. $31.$ Paid the cash dividends and issued the certificates for the common stock dividend.

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Jan. $15.$ Split the common stock $4$ for $1$ and reduced the par from $$120$ to $$30$ per share. After the split, there were $800,000$ common shares outstanding.