PREPARE JOURNAL ENTRIES :

Write a list with the following transactions, while keeping account of the credits and debits for each. January 1, issued 5,000 shares of $2 par common stock at $40. June 30, purchased 700 shares of treasury stock at $30. December 31, declared $10,000 dividend to be paid next year. On January 15th, what would be the entry for the payment of the dividend declared above?