On January $1,2024,$ Covington Corporation had $72,000$ common shares, recorded at $$662,400,$ and retained earnings

of $$1$ million. During the year, the following transactions occurred:

Apr. $2$ Issued $5,000$ common shares at $$20$ per share.

June $15$ Declared a cash dividend of $$0\mathrm{.}35$ per share to common shareholders of record on June $30,$ payable on

July $10.$

Aug. $21$ Declared a $5\%$ stock dividend to common shareholders of record on September $5,$ distributable on

September $20.$ The shares were trading for $$23$ a share on August $21,$$$24$ on September $5,$ and $$26$ on

September $20.$

Nov. $1$ Issued $3,300$ common shares at $$25$ per share.

Dec. $20$ Declared a cash dividend of $$0\mathrm{.}40$ per share to common shareholders of record on December $31,$

payable on January $10.$

$($a$)$

Record the above transactions for $2024.($List all debit entries before credit entries. Record journal

entries in the order presented in the problem. Credit account titles are automatically indented

when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for

the account titles and enter $0$ for the amounts.$)$

ate

Account Titles

Cash

Common Shares

Common Shares

Dividends Payable

Dividends Payable

Stock Dividends Distributable

Common Shares

Dividends Declared

Stock Dividends Distributable

Common Shares

$20$

Dividends Declared