Instructions Selected transactions completed by Primo Discount Corporation during the current fiscal year are as follows Split the common stock 3 for 1 and reduced the par from $75 to $25 per share. After the split, there Jan were 1,200,000 common shares outstanding. Feb 28 Purchased 40,000 shares of the corporation's own common stock at $28, recording the stock at cost Declared semiannual dividends of $0.80 on 75,000 shares of preferred stock and $0.12 on the common May 1 stock to stockholders of record on June 1, payable on July 10. Jul Paid the cash dividends. 10 Sep Sold 30,000 shares of treasury stock at $34, receiving cash. 7 Oct 1 Declared semiannual dividends of $0.80 on the preferred stock and $0.12 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 Dec Paid the cash dividends and issued the certificates for the common stock dividend. 1 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 titles JOURNAL Score: 46/225 ACCOUNTING EQUAT DATE DESCRIPTION POST, REF DEBIT CREDIT ASSETS LIABILITIES Jan. 9 1 Feb. 28 Treasury Stock 112,000.00 Cash 112,000.00 Cash Dividends 199,200.00 May 1 . Cash Dividends Payable 199,200.00 5 7 10 11 17 13 14 15 16