inse. Question 1 of 15 Question 1 7.5 points (7.5 Grades) Hamad Town Company had the following balances in the stockholders' equity accounts at Dec. 31, 2020: - Common stock, $20 par, 100,000 shares authorized, 30,000 shares issued and outstanding ....$ 600,000 - Paid in Capital in Excess of Par Value, Common Stock 400,000 - Retained Earings 1,000,000 The following transactions occurred during 2021: 1. Feb. 20: Purchased 4,000 of its own shares for $ 30 per share. 2. March 10: Declared a $1 per share cash dividend on the outstanding common stock. 3. April 07: Paid the cash dividends declared early in March 10. 4. May 20: Sold all treasury shares for $32 each. 5. Oct. 1: Declared 10% stock dividends on the outstanding common stock for the record of Nov. 1 and to be distributed on Dec. 10; The market value of stock on Oct. 1 was $28 per share. 6. Dec. 10: Distributed the shares which declared on Oct. 1. 7. Dec. 25: Implemented a 2-for-1 stock split, when the market value of stock was $26 per share. NOTE: If there is no entry, please write: NO ENTRY" Required: Prepare Journal entries to record transactions that occurred during 2021. CLEARLY INDICATE THE DEBITS & CREDITS Example: on 1 January 2020, XYZ Company pays $10,000 cash to purchase land Answer: 1/1/2020 Dr. Land 10,000 Cr. Cash 10,000 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I US Paragraph Arial