The following selected accounts appear in the ledger of Company. on January 1,
Preferred 5% Stock, $100 par (50,000 shares authorized, 500 shares issued)		$ 50,000
Paid-in Capital in Excess of Par - Preferred Stock				$ 20,000
Common Stock, $10 par (500,000 shares authorized, 10,000 shares issued)		$ 100,000
Paid-in Capital in Excess of Par - Common Stock					$ 200,000
Retained Earnings							$ 42,000

Journalize:

Issue of 4,000 share of common stock at $20, receiving cash

GENERAL JOURNAL	Page
	Date	Description	Post	Debit	Credit
1							1
2							2
3							3

Purchased 2,000 shares of treasury common for $36,000

GENERAL JOURNAL	Page
	Date	Description	Post	Debit	Credit
1							1
2							2

Sold 400 shares of treasury common for $6,800

GENERAL JOURNAL	Page
	Date	Description	Post	Debit	Credit
1							1
2							2
3							3

Sold 600 shares of treasury common for $12,000

GENERAL JOURNAL	Page
	Date	Description	Post	Debit	Credit
1							1
2							2
3							3

Declared a cash dividend of $5 per share on preferred stock and $1 per share on common stock

GENERAL JOURNAL	Page
	Date	Description	Post	Debit	Credit
1							1
2							2