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On January 1, 2020, Donna Corporation had 85,000 shares of $2 par value common stock previously issued and outstanding. During 2020, the following transactions occurred:
On January 1, 2020, Donna Corporation had 85,000 shares of $2 par value common stock previously issued and outstanding. During 2020, the following transactions occurred: Mar 1 Issued 50,000 additional shares of $2 par value common stock for $10 per share. June 1 Declared a cash dividend of $2.50 per share to stockholders of record on June 1. June 30 Paid the cash dividend declared on June 1. Dec 1 Purchased 5,000 shares of common stock for the treasury for $20 per share. Dec 31 Declared a cash dividend of $3.00 per share to stockholders of record on Dec. 31, to I paid on January 15, 2021. Prepare journal entries to record the above transactions on each date
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