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 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. Jan. 9 Feb. 28 May Declared semiannual dividends of $0.80 on 75,000 shares of preferred stock and $0.12 on the common stock to stockholders of record on June 1, payable on July 10 Jul. 10 Paid the cash dividends. Sep. 7 Sold 30,000 shares of treasury stock at $34, receiving cash 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. Paid the cash dividends and issued the certificates for the common stock dividend. Dec. 1 Journalize the transactions. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wordina of account titles