Journalize the transactions and the closing entries for net income and dividends.(Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Jan. 1Jan. 5Feb. 1Mar. 1Apr.1July 1July 31Dec. 1Dec. 31 Jan. 1Jan. 5Feb. 1Mar. 1Apr.1July 1July 31Dec. 1Dec. 31 Jan. 1Jan. 5Feb. 1Mar. 1Apr.1July 1July 31Dec. 1Dec. 31 Jan. 1Jan. 5Feb. 1Mar. 1Apr.1July 1July 31Dec. 1Dec. 31 Jan. 1Jan. 5Feb. 1Mar. 1Apr.1July 1July 31Dec. 1Dec. 31 Jan. 1Jan. 5Feb. 1Mar. 1Apr.1July 1July 31Dec. 1Dec. 31 Jan. 1Jan. 5Feb. 1Mar. 1Apr.1July 1July 31Dec. 1Dec. 31 (To close net income) Jan. 1Jan. 5Feb. 1Mar. 1Apr.1July 1July 31Dec. 1Dec. 31 (To close stock dividends) Jan. 1Jan. 5Feb. 1Mar. 1Apr.1July 1July 31Dec. 1Dec. 31 (To close cash dividends) On January 1, 2017, Geffrey Corporation had the following stockholders equity accounts.

Common Stock ($22par value,60,500 shares issued and outstanding)	$1,331,000
Paid-in Capital in Excess of ParCommon Stock	197,000
Retained Earnings	556,000

During the year, the following transactions occurred.

Feb. 1	Declared a$1cash dividend per share to stockholders of record on February 15, payable March 1.
Mar. 1	Paid the dividend declared in February.
Apr. 1	Announced a 2-for-1 stock split. Prior to the split, the market price per share was$39.
July 1	Declared a10%stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was$14per share.
31	Issued the shares for the stock dividend.
Dec. 1	Declared a$0.40per share dividend to stockholders of record on December 15, payable January 5, 2018.
31	Determined that net income for the year was$354,000.