On January 1, 2018, the general ledger of Grand Finale Fireworks includes the following account balances:

Accounts Debit Credit Cash $ 43,200 Accounts Receivable 45,500 Supplies 8,000 Equipment 69,000 Accumulated Depreciation $ 9,500 Accounts Payable 15,100 Common Stock, $1 par value 15,000 Additional Paid-in Capital 85,000 Retained Earnings 41,100 Totals $ 165,700 $ 165,700

During January 2018, the following transactions occur: January 2 Issue an additional 2,000 shares of $1 par value common stock for $40,000. January 9 Provide services to customers on account, $15,600. January 10 Purchase additional supplies on account, $5,400. January 12 Repurchase 1,200 shares of treasury stock for $17 per share. January 15 Pay cash on accounts payable, $17,000. January 21 Provide services to customers for cash, $49,600. January 22 Receive cash on accounts receivable, $17,100. January 29 Declare a cash dividend of $0.30 per share to all shares outstanding on January 29. The dividend is payable on February 15. (Hint: Grand Finale Fireworks had 15,000 shares outstanding on January 1, 2018 and dividends are not paid on treasury stock.) January 30 Reissue 800 shares of treasury stock for $19 per share. January 31 Pay cash for salaries during January, $42,500.

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