On January 1, 2025, Cullumber Corporation had 102,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Issued 117,000 shares of common stock for $877,500. Declared a cash dividend of $2 per share to stockholders of record on June 15. Paid the $2 cash dividend. Purchased 6,500 shares of common stock for the treasury for $18 per share. Dec. 15 Declared a cash dividend on outstanding shares of $2.50 per share to stockholders of record on December 31. Mar. June 1 June 30 Dec. 1 Net income for 2025 totaled $1,153,500. Prepare journal entries to record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit

On Jsaury 1.2025, Cullumber Corporation had 102,000 shares of \$1 par value common stock issed and outstanding During the vear the following transactions occurred: Mar 1. Issued 117,000 shares of commonstock for 5877.500 . June 1 Declared a cash dividend of $2 per shiare to stockholsers of record on June 15 . lime 10 Paid the 52 cashdividend Doc. 1 Parchased 6.500 shares of cormmon stock tor the treasury for $18 per share. Dec. 15. Declared a cash dividend on owtstanding shares of $250 per thare to stockholders of recond on December 31. Net incime for 2025 tstaled $1,153,500 presented in the protilem. If no entry is required, select "No Entry' for the eccount titler ond enter Ofor the amounts, list alf dehit entries before credit entries)