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	60,000
Retained earnings	400,000
Total stockholders equity	$	1,210,000

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

Jan.

1

Purchased 5,000 shares of its own stock at $20 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 $24 cash per share.

Aug.

22

Sold 3,125 of its treasury shares at $17 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.

1.	Prepare journal entries to record each of these transactions for 2016.