*is not 1,000,000 and 100,000

Prepare entries to record the following selected transactions completed during the current fiscal year: Jan. 1 The board of directors declared a stock split which reduced the par of common shares from S100 to $20. This action increased the number of outstanding shares to 500,000. Purchased 25,000 shares of own stock at $44, recording the treasury stock at cost Declared a dividend of $2 per share on the outstanding shares of common stock Paid the dividend declared on March 1 Declared a 1% stock dividend on common stock outstanding (the fair market value of 10 March 1 15 July 1 the stock to be issued is $50). July 15 Issued the certificates for the common stock dividend declared Description Debit Credit 1/1 No Entry Required No Entry Required 1/10 Treasury Stock Cash 1100000 1100000 3/1 Cash Dividend Cash Dividend Payable 3/15 Cash Dividend Pavable Cash 7/1 Stock Dividend Stock Dividends Distributable 7/15 Stock Dividends Distributable Common Stock