Kohler Corporation reports the following components of stockholders equity on December 31, 2015

Common stock$15 par value, 100,000 shares authorized, 50,000 shares issued and outstanding	$	750,000
Paid-in capital in excess of par value, common stock		70,000
Retained earnings		400,000
Total stockholders equity	$	1,220,000

In year 2016, the following transactions affected its stockholders equity accounts.

Jan.		1		Purchased 5,000 shares of its own stock at $25 cash per share.
Jan.		5		Directors declared a $2 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record.
Feb.		28		Paid the dividend declared on January 5.
July		6		Sold 1,875 of its treasury shares at $29 cash per share.
Aug.		22		Sold 3,125 of its treasury shares at $22 cash per share.
Sept.		5		Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record.
Oct.		28		Paid the dividend declared on September 5.
Dec.		31		Closed the $388,000 credit balance (from net income) in the Income Summary account to Retained Earnings.

PLEASE ANSWER AND EXPLAIN HOW TO DO IN ORDER TO GET THE AMOUNT FOR DEBIT AND CREDIT FOR DATE **JAN 05** IN JOURNAL BECAUSE THE AMOUNT I GET IT SEEMS TO BE INCORRECT, THANK YOU

Record the declaration of a cash dividend of $2 per share.

Journal Entry Worksheet

Record the declaration of a cash dividend of $2 per share.

DATE	GENERAL JOURNAL	DEBIT	CREDIT
JAN 05	Retained earnings	??
	Common dividend payable		??