On January 1, Blossom Corporation had 93,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $ 6 per share. During the year, the following occurred.

Apr.1Issued 20,000 additional shares of common stock for $ 16 per share.June15Declared a cash dividend of $ 2 per share to stockholders of record on June 30.July10Paid the $ 2 cash dividend.Dec.1Issued 3,000 additional shares of common stock for $ 18 per share.15Declared a cash dividend on outstanding shares of $ 1.00 per share to stockholders of record on December 31.

Date Account Titles and Explanation Debit Credit Apr. 1 v Cash 320,000 Common Stock 40,000 Paid-in Capital in Excess of Stated Value Common Stock 280,000 June 15 Cash Dividends 95,500 Dividends Payable 95,500 July 10 v Dividends Payable 95,500 Cash 95,500 Dec. 1 Cash 54,000 Common Stock Paid-in Capital in Excess of Stated Value Common Stock Dec. 15 V Cash Dividends 116,500 Dividends Payable 116,500