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The stockholders equity accounts of Miley Corporation on January 1, 2014, were as follows. Preferred Stock (8%, $100 par noncumulative, 4,600 shares authorized) $276,000 Common

The stockholders equity accounts of Miley Corporation on January 1, 2014, were as follows.

Preferred Stock (8%, $100 par noncumulative, 4,600 shares authorized) $276,000
Common Stock ($4 stated value, 306,400 shares authorized) 980,480
Paid-in Capital in Excess of Par ValuePreferred Stock 13,800
Paid-in Capital in Excess of Stated ValueCommon Stock 245,120
Retained Earnings 702,800
Treasury Stock(4,600 common shares)

36,800

During 2014, the corporation had the following transactions and events pertaining to its stockholders equity.

Feb. 1 Issued 4,800 shares of common stock for $33,600.
Mar. 20 Purchased 1,970 additional shares of common treasury stock at $8 per share.
Oct. 1 Declared a 8% cash dividend on preferred stock, payable November 1.
Nov. 1 Paid the dividend declared on October 1.
Dec. 1 Declared a $0.80 per share cash dividend to common stockholders of record on December 15, payable December 31, 2014.
Dec. 31

Determined that net income for the year was $280,200. Paid the dividend declared on December 1.

Journalize the transactions. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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