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

Common stock$20 par value, 100,000 shares authorized, 45,000 shares issued and outstanding	$	900,000
Paid-in capital in excess of par value, common stock		70,000
Retained earnings		370,000
Total stockholders equity	$	1,340,000

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

Jan.

1

Purchased 4,500 shares of its own stock at $20 cash per share.

Jan.

5

Directors declared a $4 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 1,688 of its treasury shares at $24 cash per share.

Aug.

22

Sold 2,812 of its treasury shares at $17 cash per share.

Sept.

5

Directors declared a $4 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 $368,000 credit balance (from net income) in the Income Summary account to Retained Earnings.

Record the reissue of 1,688 shares of the treasury stock for $24 cash per share.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Jul 06	Cash
	Treasury stock, Common
	Paid-In capital, Treasury stock

Record the declaration of a cash dividend of $4 per share.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Sep 05	Retained earnings
	Common dividend payable

Record the payment of the cash dividend.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Oct 28	Common dividend payable
	Cash