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aro Journal Instructions Selected transactions completed by Primo Discount Corporation during the current fiscal year are as follows: Jan. 9 Feb. 28 May 1 Jul. 10 Split the common stock 3 for 1 and reduced the par from $75 to $25 per share. After the split, there were 1,200,000 common shares outstanding. Purchased 40,000 shares of the corporation's own common stock at $28, recording the stock at cost. Declared semiannual dividends of $0.80 per share on 75,000 shares of preferred stock and $0.12 per share on the common stock to stockholders of record on June 1, payable on July 10. Paid the cash dividends. Sold 30,000 shares of treasury stock at $34, receiving cash. Declared semiannual dividends of $0.80 per share on the preferred stock and $0.12 per share on the common stock (before the stock dividend). In addition, a 2% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $36. Paid the cash dividends and issued the certificates for the common stock dividend. Sep 7 Oct. 1 Dec Journalize the transactions. I no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact worting of amount is Check My Work 2 more Check My Work uses remaining, Sum AS Lucuons Journal Journalize the transactions. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account files. All transactions on this page must be entered (except for post ref(s)) before you will receive Check My Work feedback. PAGE 10 JOURNAL Score: 145/225 ACCOUNTING EQUATION DATE DESCRIPTION 1 POST: REE Feb. 28 DEBIT Treasury Stock CREDIT ASSETS LIABILITIES EQUITY 1,120,000.00 2 Cash 1 3 1,120,000.00 4 60,000.00 4 . $ 60,000.00 1 May 1 Preferred Stock Preferred Stock May 1 Cash Dividends Cash Dividends Payable Jul 10 Cash Dividends Payable Cash 139,200.00 6 . 139,200.00 7 1 60,000.00 1 + 60,000.00 Jul 10 Cash Dividends 4 139,200.00 5 139,200.00 1 Check My Work 2 more Check My Work uses remaining Ignment Score: 79.83% Instructions Journal 139.2000 Cash widends Yayable 60,000.00 7 Jul 10 Cash Dividends Payable 60,000.00 + . Cash 1 Jul. 10 Cash Dividends 139,200.00 Cash 139,200.00 + 1.020,000.00 t 11 Sep. 7 Cash 840,000.00 1 12 180,000.00 1 11 Treasury Stock Paid-In Capital from Sale of Treasury Stock Cash Dividends 1 14 Oct 1 142,800.00 142.800.00 + 15 Cash Dividends Payable 16 11 10 Points Check My Work 2 more Check My Work Temaining Assignment Score: 78.63%