Morrow Enterprises Inc manufactures bathroom fixtures Morrow Enterprises stockholders equity accounts, with balances on January 1, 20Y6, are as follows Common Stock, $10 stated value (650,000 shares authorized, 440,000 shares issued) $4,400,000 Paid In Capital in Excess of Stated Value Common Stock 850,000 Retained Earnings 9,990,000 Treasury Stock (44,000 shares, at cost) 616,000 The following selected transactions occurred during the year Jan 22 Paid cash dividends of $0 15 per share on the common stock The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $59,400 Apr 10 Issued 85,000 shares of common stock for $1,530,000 June 6 Sold all of the treasury stock for $17 per share July 5 Declared a 5 Stock dividend on common stock, to be capitalized at the market price of the stock, which is $20 per share Aug 15 Issued shares of stock for the stock dividend declared on July 5 Nov 23 Purchased 28,000 shares of treasury stock for $19 per share Dec 28 Declared a $0 18 per share dividend on common stock 31 Closed the credit balance of the income summary account, $10,390,000 31 Closed the two dividends accounts to Retained Earnings Required Journalize the entries to record the transactions For a compound transaction, if an amount box does not require an entry, leave it blank Jan 22 Paid cash dividends of $0 15 per share on the common stock The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $59,400 Date Account Debit Credit Jan 22 Cash Dividends Payable Cash Apr 10 Issued 85,000 shares of common stock for $1,530,000 Date Account Debit Credit Apr 10 Cash Common Stock Paid In Capital in Excess of Stated Value Common Stock June 6 Sold all of the treasury stock for $17 per share Date Account Debit Credit June 6 July 5 Declared a 5 stock dividend on common stock, to be capitalized at the market price of the stock, which is $20 per share Date Account Debit Credit July 5 Aug 15 Issued shares of stock for the dividend declared on July 5 Date Account Debit Credit Aug 15

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Morrow Enterprises Inc. manufactures bathroom fixtures. Morrow Enterprises stockholders equity accounts, with balances on January 1, 20Y6, are as follows: Common Stock, $10 stated value

Morrow Enterprises Inc. manufactures bathroom fixtures. Morrow Enterprises stockholders equity accounts, with balances on January 1, 20Y6, are as follows:

Common Stock, $10 stated value (650,000 shares authorized, 440,000 shares issued)	$4,400,000
Paid-In Capital in Excess of Stated Value-Common Stock	850,000
Retained Earnings	9,990,000
Treasury Stock (44,000 shares, at cost)	616,000

The following selected transactions occurred during the year:

Jan. 22.	Paid cash dividends of $0.15 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $59,400.
Apr. 10.	Issued 85,000 shares of common stock for $1,530,000.
June 6.	Sold all of the treasury stock for $17 per share.
July 5.	Declared a 5% Stock dividend on common stock, to be capitalized at the market price of the stock, which is $20 per share.
Aug. 15.	Issued shares of stock for the stock dividend declared on July 5.
Nov. 23.	Purchased 28,000 shares of treasury stock for $19 per share.
Dec. 28.	Declared a $0.18-per-share dividend on common stock.
31.	Closed the credit balance of the income summary account, $10,390,000.
31.	Closed the two dividends accounts to Retained Earnings.

Required:

Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank.

Jan. 22. Paid cash dividends of $0.15 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $59,400.