On January 1, 2020, Sage Hill Corporation had 69,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Mar. 1 Issued 26,000 shares of common stock for $540,000. June 1 July 30 Declared a cash dividend of $2 per share to stockholders of record on June 15. Paid the $2 cash dividend. Dec. 1 Purchased 5,800 shares of common stock for the treasury for $23 per share. Dec. 15 Declared a cash dividend on outstanding shares of $2.20 per share to stockholders of record on December 31. Prepare journal entries to record the above transactions. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Date Mar. 1 3 Account Titles and Explanation Cash Debit Credit 540000 Common Stock Paid-in Capital in Excess of Par Common Stock 26000 514000