Part 1 Instructions: . Use the letter for each as the date.Record the following journal entries for ABC Corporation on the journal in the provided Studen

A. Issued 2500 shares of $10 par common stock at $11, receiving cash.

B. Issued $ 50000 of 10 year 10% bonds at a market (effective) interest rate of 9%, with interest payable semiannually. Use the Present Value Tables in Appendix A of text book. Round all calculations to the nearest dollar.

C. Declared a dividend of $0.25 per share on common stock. On date of declaration, 8000 shares of common stock were outstanding.

D. Paid cash dividend from (c) above.

E. Purchased 3000 shares of Jones Company for $10 per share, plus $1500 commission. Our company purchased less than 20% of the outstanding stock of Jones Company.

F. Declared a 5% stock dividend on the $10 par common stock when themarket price was $ 25 per share. There were 8000 Shares outstanding.

G. Distributed the stock dividends declared in (F).

H. Purchased $5000 of 5% bonds at par. Interest is payable semiannually.

I. Purchased 150 shares of treasury common stock for $12 per share.

J. Received semiannual interest from bonds purchased in (H).

K. Received a total cash dividend of $300 from Jones Company.

L. Received a $500 dividend from our investment in Masco Company stock. This investment is accounted for under the equity method. Record the following journal entries for ABC Corporation on the journal in the provided Student Requirements and Basic Instructions:

M. Sold, at $17 per share, 75 shares of treasury common stock purchased in (I).

N. Sold 600 shares of Jones company stock purchased in (E) for $13 per share, including commission.

O. Masco Company's total earnings are $25000. We own 40%. Record the earnings for our company using the equity method.

P. Sold the bonds purchased in (H) at 103 plus $63 in accrued interest.

Q. At the end of the accounting period, the remaining shares of Jones Company stock increased $2.00 per share

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.