III. Journalize the following selected transactions completed during the current fiscal year: (worth 35 points) If no entry is made write No entry

Jan 3 The Board of Directors issued 10,000 shares of common stock at $21 a share receiving cash. The common stock has a par value of $20 a share

Jan 15 The Board of Directors issued 5,000 shares of 2% preferred stock at $90 a share. The preferred stock has a par value of $75 a share

Jan 22 Declared a dividend of $1.75 per share on the outstanding shares of common stock. There are 400,000 shares of common stock outstanding

Jan 30 Record date

Feb. 8 Paid the dividend declared on January 22.

Sept. 1 Declared a 5% stock dividend on the common stock outstanding (the fair market value of the stock to be issued is $30). There are 400.000 common stock shares outstanding at $20 par

Oct. 1 Issued the certificates for the common stock dividend declared on September 1