On June 1, Company ABC issues 30,000 shares of common stock to investors for $40 each. The common stock has a par value of $0.10. Debit Account Credit Account Debit Amount On May 2, Company ABC declared dividends of $29,650 to be paid to shareholders. Debit Account Credit Account Debit Amount On May 5, Company ABC repurchased 1,250 shares of its own stock back from the market for $29 each. Debit Account Credit Account Debit Amount On May 10, Company ABC had their "date of record," to record which shareholders would receive the dividends. Debit Account Credit Account Debit Amount On May 13, Company ABC paid the $29,650 dividends they had declared on May 2 in cash. Debit Account Credit