On January 1, 2018, Calvin Corporation had 60,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: March 1 Issued 40,000 shares of common stock for $6,000,000 June 1 Declared a cash dividend of $2 per share to stockholders of record June 15 June 30 Paid the $2 cash dividend Instructions: Prepare journal entries to record the above transactions