Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows:

1. Journalize the selected transactions.

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a. Issued 15,000 shares of $20 par common stock at $30, receiving cash.

Description	Debit	Credit

b. Issued 4,000 shares of $80 par preferred 5% stock at $100, receiving cash.

Description	Debit	Credit

c. Issued $500,000 of 10-year, 5% bonds at 104, with interest payable semiannually.

Description	Debit	Credit

d. Declared a quarterly dividend of $0.50 per share on common stock and $1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding.

Description	Debit	Credit
Common stock
Preferred stock

e. Paid the cash dividends declared in (d).

Description	Debit	Credit

f. Purchased 7,500 shares of Solstice Corp. at $40 per share, plus a $150 brokerage commission. The investment is classified as an available-for-sale investment.

Description	Debit	Credit

g. Purchased 8,000 shares of treasury common stock at $33 per share.

Description	Debit	Credit

h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for $24 per share. Pinkberry has 125,000 shares issued and outstanding. Equinox Products Inc. treated the investment as an equity method investment.

Description	Debit	Credit

i. Declared a $1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued.

Description	Debit	Credit

j. Paid the cash dividends to the preferred stockholders.

Description	Debit	Credit

k. Received $27,500 dividend from Pinkberry Co. investment in (h).

Description	Debit	Credit

l. Purchased $90,000 of Dream Inc. 10-year, 5% bonds, directly from the issuing company, at their face amount plus accrued interest of $375. The bonds are classified as a held-to-maturity long-term investment.

Description	Debit	Credit