Kohler Corporation reports the following components of stockholders equity on December 31, 2017:

Common stock$10 par value, 100,000 shares authorized, 40,000 shares issued and outstanding	$	400,000
Paid-in capital in excess of par value, common stock		60,000
Retained earnings		270,000
Total stockholders' equity	$	730,000

In year 2018, the following transactions affected its stockholders equity accounts.

Jan.		1		Purchased 4,000 shares of its own stock at $20 cash per share.
Jan.		5		Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record.
Feb.		28		Paid the dividend declared on January 5.
July		6		Sold 1,500 of its treasury shares at $24 cash per share.
Aug.		22		Sold 2,500 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.

GeneralTrial Balance RE Ledger Statement of Stockholders Impact on General Journal Requirement In year 2018, the following transactions affected its stockholders equity accounts. Prepare the necessary journal entries. (If no journal entry is required, select "No journal entry required" in the first input box.) View transaction list Journal entry worksheet Purchased 4,000 shares of its own stock at $20 cash per share. Note: Enter debits before credits. Date Account Title Debit Credit Jan 01