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Ezy Ryder incorporated on January 1, 2020 and was authorized to issue 20,000 shares of $1.00 par value common stock. The following transactions occurred during

Ezy Ryder incorporated on January 1, 2020 and was authorized to issue 20,000 shares of $1.00 par value common stock. The following transactions occurred during the year:

Jan 2, 2020:

Issued 13,000 shares of the common stock for $16 per share

March 4, 2020:

Repurchased 3,200 shares for $20 each

June 1, 2020:

Declared and paid a cash dividend of $1.50 per share

a.) Prepare journal entries for the January 2, March 4 and June 1 transactions. If you are not sure how to prepare the journal entry, list the specific accounts affected by the transaction. (Hint: there are more than two lines below, because some transaction may affect more than two accounts.) b.) What was the total amount of dividends paid on June 1, 2020?

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