Question 24 Not yet answered The following accounts appear in the ledger for Steel Co. at the beginning of the year. Common Stock, $15 par (80,000 shares authorized, 45,000 shares issued...$675,000 Paid-In Capital in Excess of Par - Common Stock...$40,000 Retained Earnings...$22,525,000 Points out of 25.00 Flag question Required: Prepare the journal entries for the following transactions. Issued 10,000 shares of common stock at $18, receiving cash. Purchased 5,000 shares of treasury common for $16 per share. Sold all 5,000 shares of treasury common for $18 per share. Declared cash dividends of $0.05 per share of common stock. Paid the cash dividends. Rather than a cash dividend as described in transaction "D" above, create any journal entries associated with declaring and distributing a stock dividend under the following scenario: Declared a 3% stock dividend on common stock, to be capitalized at the market price of the stock, which is $20 per share. Issues shares of stock for the dividend declared in Part A