Instructions Chart of Accounts 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 1,051,500 common shares outstanding. Purchased 41,200 shares of the corporation's own common stock at $27, recording the stock at cost. Declared semiannual dividends of $0.90 on 71,600 shares of preferred stock and So.13 on the common stock to stockholders of record on June 1, puyable on July 10. Paid the cash dividends Sold 28,500 shares of treasury stock at $34, receiving cash. Declared semiannual dividends of $0.90 on the preferred stock and $0.13 on the common stock (before the stock dividend). In addition, a 3% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $38. Paid the cash dividends and issued the certificates for the common stock dividend, 7 Sep. Oct 1 Dec. 1 JOURNAL ACCOUNTING DATE DESCRIPTION POST. RET DERIT LI 1 I 1 9 10 11 12