Problem 18-8 Share issue costs; issuance; dividends; early retirement [LO18-3,18-4,18-7 During its first year of operations, Cupola Fan Corporation issued 34,000 of $1 par Class B shares for $405,000 on June 30, 2018. Share issue costs were $1,900. One year from the issue date (July 1, 2019), the corporation retired 10% of the shares for $41,500. Required: 1. to 4. Prepare the journal entry to record the issuance of the shares, the declaration of a $2.40 per share dividend on December 1 2018, the payment of the dividend on December 31, 2018 and the retirement of the shares. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) & Answer is complete but not entirely correct. No Date General Journal Debit Credit June 30, 2018 Cash 405,000 Common stock 34,000 371,000 Paid-in capital-excess of par Paid-in capital excess of par 1,500 Cash 1,500 2 December 01, 201 Retained earnigs 81,600 Cash dividends payable 1,600 3 December 31, 201 Cash dividends payable 81,600 Cash 81,600 4 July 01, 2019 Common stock 3,400 Paid-in capital excess of par Retained earnings 36,950 1,1508 Cash 41,500