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Starr corporation began business on January 4, 2016. The articles of incorporation authorized 500,000 shares of $10 par common stock and 10,000 shares of 7%,

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Starr corporation began business on January 4, 2016. The articles of incorporation authorized 500,000 shares of $10 par common stock and 10,000 shares of 7%, $100 par preferred stock. Starr engaged in the following transactions during 2016 January 5: Issued 100,000 shares of common stock at $14 per share. January 6: Issued 8,000 shares of the preferred at $110 per September 1: Declared cash dividends of $125,000 for common stock and $56,000 for preferred stock, to be paid on November 1, 2016 to all shareholders of record on October 1, 2016 Prepare the journal entries, if any, that should be made by Starr Corporation on the following dates: January 5, 2016 January 6, 2016 September 1, 2016 October 1, 2016 November 1, 2016

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