Problem 12-2 Prepare Journal Entries for all of the following transactions: On January 1, 20X8, Stacy Corporation began operations by selling 200,000 shares of $1 par value stock to the public for $5 per share. On June 30, they sold 50,000 more shares at S6 per share. On July 1, they declared a dividend of S.50 per share, payable on July 30 to shareholders of record on July 15. On July 30 they paid the dividend. a