Patrick Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During 2014, the company has the following stock transactions.

Jan. 15 Issued 700,000 shares of stock at $7 per share.

Sept. 5 Purchased 20,000 shares of common stock for the treasury at $8 per share.

Dec. 6 Declared a $0.50 per share dividend to stockholders of record on December 20, payable January 3, 2015.

Journalize the transactions for Patrick Corporation.

PLEASE SHOW CALCULATIONS