Part 1 Instructions: Record the following journal entries for ABC Corporation on the journal in the provided Student Input Form (Excel file). Use the letter for each as the date. Journal Entries A. Issued 500 shares of $10 par common stock at $11, receiving cash. (6 points) B. Issued $ 10000 of 10 year 10% bonds at a market (effective) interest rate of 9%, with interest payable semiannually. Use the Dollar and Annuity Tables in Appendix A of text book. Round all calculations to the nearest dollar. (6 points) C. Declared a dividend of $0.25 per share on common stock. On date of record, 1600 shares of common stock were outstanding. (3 points) D. Paid cash dividend from (C) above. (2 points) E. Purchased 600 shares of Jones Company for $10 per share, plus $300 commission. The investment is classified as a trading investment. (3 points) (6 points) F. Declared a 5% stock dividend on the $10 par common stock when the Market price was $ 25 per share. There were 1600 Shares outstanding. G. Distributed the stock dividends declared in (F). (2 points) (3 points) H. Purchased $5000 of 5% bonds at par. Interest is payable semiannually. 1. Purchased 30 shares of treasury common stock for $12 per share. (3 points) J. Received semiannual interest from bonds purchased in (H). (3 points) K. Received a total cash dividend of $60 from Jones Company. (3 points) L. Received a $100 dividend from our investment in Masco Company stock. This investment is treated as an equity method investment. (3 points) M. Sold, at $17 per share, 15 shares of treasury common stock purchased in (F). (6 points) N. Sold 120 shares of Jones company stock purchased in (E) for $13 per share, including commission. (6 points) O. Masco Company's total earnings are $5000. We own 40%. Record the earnings for our company using the equity method. (3 points) P. Sold the bonds purchased in (H) at 103 plus $63 in accrued interest. (8 points) Q. The fair value for Jones Company stock increased $2.00 per share during the year. The investment is adjusted to fair value, using a valuation allowance account. (3 Points) R. Record the payment of semiannual interest on the bonds issued in (B) and the amortization of the premium for six months. The amortization is determined using the straight-line method. Round all calculations to the nearest dollar. (6 points)