mation on the last line of the journal entry table.) Credit More Info Jan. 1 Jan. 10 Issued 30,000 shares of $1 par value common stock for a total of $300.000 Issued 10,000 shares of 6% $2 par value preferred stock in exchange for land with a market value of $200,000 Declared total cash dividends of $40,000 Declared a 9% common stock dividend when the market value of the stock was $11.00 per share Paid the cash dividends. Dec. 15 Dec. 20 Dec. 31 Dec, 31 Distributed the stock dividend. Print Done CP13-54 (similar to) After looking into debt financing through notes, mortgage, and bonds payable, Outdoor Adventure Company decides to raise additional capital Common Stock on January 1, 2021 was 5150,000 and included 150,000 shares of common stock issued and outstanding. (There was no Paid (Click the icon to view the transactions.) Read the requirements Requirement 1. Journalize the transactions. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Jan 1: Issued 30,000 shares of $1 par value common stock for a total of $300,000 Date Accounts and Explanation Debit Credit Jan 1 Cash Common Stock-$1 Par Value Pald-In Capital in Excess of Par-Common Issued common stock at par capital for a planned business expansion. The company will be able to acquire cash as well as land adjacent to the current business location Belonis the following transactions the balance no Paid in Capital in Excess of Par-Common) Outdoor Adventure Company had the following transactions 2021