Ex. 1 On January 1, 2005, Dolan Corporation had 60,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Mar. Issued 40,000 shares of common stock for $600,000 June Declared a cash dividend of $2.00 per share to stockholders of record on June 15 30 1 Purchased 4,000 shares of common stock for the treasury for $22 per share. 15 Declared a cash dividend on outstanding shares of $2.25 per share to stockholders of record on December 31 June Paid the $2.00 cash dividend. Dec Instructions Prepare journal entries to record the above transactions