Exercise 228 On January 1, 2017, Browning Corporation had 75,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Mar. 1 June 1 June Issued 90,000 shares of common stock for $675,000. Declared a cash dividend of $2.00 per share to stockholders of record on June 15 $2.00 cash dividend. Purchased 5,000 shares of common stock for the treasury for $18 per share. Dec. 1 Dec. Declared a cash dividend on outstanding shares of $2.50 per share to stockholders of record on December 31 15 Net income for 2017 amounted to $951,000. Prepare journal entries to record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT