Exercise 14-1 Your answer is partially correct. Try again. On January 1, Guillen Corporation had 92,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following occurred Apr. 1 Issued 28,500 additional shares of common stock for $16 per share June 15 Declared a cash dividend of $3 per share to stockholders of record on June 30 July 10 Paid the $3 cash dividend Dec. 1 Issued 1,500 additional shares of common stock for $18 per share 15 Declared a cash dividend on outstanding shares of $3.20 per share to stockholders of record on December 31 Prepare the entries to record these transactions. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Apr. 1 Cash 456,000 Common Stock 370,000 Paid-in Capital in Excess of Par-Common Stock 86,000 June 15 Cash Dividends 363000 Dividends Payable 363000 July 10 Dividends Payable 363000 Cash 363000 Dec. 1 Cash 27000 Common Stock 343,000 Paid-in Capital in Excess of Par-Common Stock 316,000 Dec. 15 Cash Dividends 392000 Dividends Payable 392000