On January 1, 2010, Browning Corporation had 75,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred. Mar. 1 Issued 45,000 shares of common stock for $675,000 June 1 Declared a cash dividend of $2.00 per share to stockholders of record on June 15 June 30 Paid the $2.00 cash dividend Dec. 1 Purchased 4,000 shares of common stock for the treasury for $18 per share Dec. 15 Declared a cash dividend on outstanding shares of $2.50 per share to stockholders of record on December 31 Net income for 2010 amounted to $951,000. Instructions Prepare journal entries to record the above transactions