On January 1, 2022, Sandhill Corporation had the following stockholders equity accounts.

Common Stock ($20 par value, 63,500 shares issued and outstanding)		$1,270,000
Paid-in Capital in Excess of ParCommon Stock		197,000
Retained Earnings		564,000

During the year, the following transactions occurred.

Feb. 1		Declared a $2 cash dividend per share to stockholders of record on February 15, payable March 1.
Mar. 1		Paid the dividend declared in February.
Apr. 1		Announced a 2-for-1 stock split. Prior to the split, the market price per share was $38.
July 1		Declared a 15% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $15 per share.
31		Issued the shares for the stock dividend.
Dec. 1		Declared a $0.60 per share dividend to stockholders of record on December 15, payable January 5, 2023.
31		Determined that net income for the year was $300,500.

(a)

Journalize the transactions and the closing entries for net income and dividends. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)

Date	Account Titles and Explanation	Debit	Credit
choose a transaction date Jan. 1Jan. 5Feb. 1Mar. 1Apr.1July 1July 31Dec. 1Dec. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Jan. 1Jan. 5Feb. 1Mar. 1Apr.1July 1July 31Dec. 1Dec. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Jan. 1Jan. 5Feb. 1Mar. 1Apr.1July 1July 31Dec. 1Dec. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Jan. 1Jan. 5Feb. 1Mar. 1Apr.1July 1July 31Dec. 1Dec. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Jan. 1Jan. 5Feb. 1Mar. 1Apr.1July 1July 31Dec. 1Dec. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Jan. 1Jan. 5Feb. 1Mar. 1Apr.1July 1July 31Dec. 1Dec. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Jan. 1Jan. 5Feb. 1Mar. 1Apr.1July 1July 31Dec. 1Dec. 31	enter an account title to close net income	enter a debit amount	enter a credit amount
	enter an account title to close net income	enter a debit amount	enter a credit amount
	(To close net income)
choose a transaction date Jan. 1Jan. 5Feb. 1Mar. 1Apr.1July 1July 31Dec. 1Dec. 31	enter an account title to close stock dividends	enter a debit amount	enter a credit amount
	enter an account title to close stock dividends	enter a debit amount	enter a credit amount
	(To close stock dividends)
choose a transaction date Jan. 1Jan. 5Feb. 1Mar. 1Apr.1July 1July 31Dec. 1Dec. 31	enter an account title to close cash dividends	enter a debit amount	enter a credit amount
	enter an account title to close cash dividends	enter a debit amount	enter a credit amount
	(To close cash dividends)