Journalize the transactions. If no entry is required, select "No Entry Required" from the dropdown box and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. Jan. 5. Split the common stock 3 for 1 and reduced the par from $105 to $35 per share. After the split, there were 390,000 common shares outstanding. Date Account Debit Credit Jan. No Entry Required 0 5. No Entry Required 0 0 Mar. 10. Purchased 31,000 shares of the corporation's own common stock at $39, recording the stock at cost. Date Account Debit Credit Mar. Treasury Stock 1,209,000 10. Cash 1,209,000 Apr. 30. Declared semiannual dividends of $3.60 on 50,000 shares of preferred stock and $0.30 on the common stock to stockholders of record on June 15. Date Account Debit Credit Apr. 30. Cash Dividends Cash Dividends Payable June 15. Paid the cash dividends. Date Account Debit Credit June 15. Aug. 20. Sold 22,000 shares of treasury stock at $45, receiving cash. Date Account Debit Credit Aug 20. Oct. 15. Declared semiannual dividends of $3.60 on the preferred stock and $0.36 on the common stock (before the stock dividend). Date Account Debit Credit Oct. 15 Oct. 15. A 2% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $47. Date Account Debit Credit Oct. 15. Dec. 19. Paid the cash dividends. Date Account Debit Credit Dec. 19. Dec. 19. Issued the certificates for the common stock dividend. Date Account Debit Credit Dec. 31