Marcellus Company reports the following components of stockholders' equity on January 1 Common stock-$10 par value, 118,eee shares authorized, 40, eee shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $400,000 68,eee 330, eee $ 790,000 During the year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 4,080 shares of its own stock at $23 cash per share. January 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. February 28 Paid the dividend declared on January 5. July 6 Sold 2, Bee of its treasury shares at $27 cash per share. August 22 Sold 2, eee of its treasury shares at $19 cash per share. September 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record, October 28 Paid the dividend declared on September 5. December 31 Closed the 5549, See credit balance (from net income) in the Income Summary account to Retained Carnings Journal entry worksheet 1 2 3 4 5 6 6 7 8 int Purchased 4,000 shares of its own stock at $23 cash per share. ences Note: Enter debits before credits. Date Account Title Debit Credit January 02 Record entry Clear entry View general journal Journal entry worksheet 1 2 4 5 6 7 Paid the dividend declared on January 5. Note: Enter debits before credits Debit Credit Date Account Title February 28 Record entry Clear entry View general journal Journal entry worksheet