Selected transactions completed by Primo Discount Corporation during the current fiscal year are as follows: Jan. 9 Split the common stock 3 for 1 and reduced the par from $75 to $25 per share. Afler the split, there were 1 , 200 , 000 common shares outstanding Feb. 28 Purchased 40,000 shares of the corporation's own common stock at $28 , recording the stock at cost. May 1 Declared semkannual dividends of $0.80 per share on 75,000 shares of preferred stock and $0.12 per share on the common stock to stockholders of record on June 1, payable on July 10. Jul. 10 Paid the cash divislends. Sep. 7 Sold 30,000 shares of treasury stock at $34 , receiving cash. Oot. 1 Declared semiannual dividends of $0.80 per share on the preferred stock and $0.12 per share on the common stock (betore the stock dividend). In addition, a 2% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $36 . Dec. 1 Paid the cash dividends and issued the certificates for the common stock dividend. Required: Chart of Accounts CHART OF ACCOUNTS Primo Discount Corporation General Ledger ASSETS REVENUE 110 Cash 410 Sales 120 Accounts Recelvable 610 Interest Revenue 131 Notes Recelvable 132 Interest Receivable EXPENSES 141 Inventory 510 Cost of Goods Sold 145 Office Supplies 515 Credit Card Expense 151 Prepaid Insurance 520 Salaries Expense 181 Land 531 Advertising Expense 193 Equipment 532 Delivery Expense 194 Accumulated Depreciation-Equipment 533 Selling Expenses 534 Rent Expense LIABILITIES 535 Insurance Expense Chart of Accounts 193 Equipment 194 Accumulated Depreciation-Equipment 533 Selling Expenses 534 Rent Expense LIABILITIES 535 Insurance Expense 210 Accounts Payable 536 Office Supplies Expense 221 Notes Payable 537 Organizational Expenses 226 Interest Payable 562 Depreciation Expense-Equipment 231 Cash Dividends Payable 590 Miscellaneous Expense 241 Salaries Payable 710 Interest Expense 261 Mortgage Note Payable EQUITY 236 Stock Dividends Distributable 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock Chart of Accounts 231 Cash Dividends Payable 590 Miscellaneous Expense 241 Salaries Payable 710 Interest Expense 261 Mortgage Note Payable EQUITY 236 Stock Dividends Distributable 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322. Paid-In Capital in Excess of Par-Preferred Stock 331 Paid-In Capital from Sale of Treasury Stock 340 Retained Earnings 351 Cash Dividends 352 Stock Dividends doumaiene the transactions. (x) General Joumal 3. . , , Selected transactions completed by Primo Discount Corporation during the current fiscal year are as follows: Jan. 9 Split the common stock 3 for 1 and reduced the par from $75 to $25 per share. Afler the split, there were 1 , 200 , 000 common shares outstanding Feb. 28 Purchased 40,000 shares of the corporation's own common stock at $28 , recording the stock at cost. May 1 Declared semkannual dividends of $0.80 per share on 75,000 shares of preferred stock and $0.12 per share on the common stock to stockholders of record on June 1, payable on July 10. Jul. 10 Paid the cash divislends. Sep. 7 Sold 30,000 shares of treasury stock at $34 , receiving cash. Oot. 1 Declared semiannual dividends of $0.80 per share on the preferred stock and $0.12 per share on the common stock (betore the stock dividend). In addition, a 2% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $36 . Dec. 1 Paid the cash dividends and issued the certificates for the common stock dividend. Required: Chart of Accounts CHART OF ACCOUNTS Primo Discount Corporation General Ledger ASSETS REVENUE 110 Cash 410 Sales 120 Accounts Recelvable 610 Interest Revenue 131 Notes Recelvable 132 Interest Receivable EXPENSES 141 Inventory 510 Cost of Goods Sold 145 Office Supplies 515 Credit Card Expense 151 Prepaid Insurance 520 Salaries Expense 181 Land 531 Advertising Expense 193 Equipment 532 Delivery Expense 194 Accumulated Depreciation-Equipment 533 Selling Expenses 534 Rent Expense LIABILITIES 535 Insurance Expense Chart of Accounts 193 Equipment 194 Accumulated Depreciation-Equipment 533 Selling Expenses 534 Rent Expense LIABILITIES 535 Insurance Expense 210 Accounts Payable 536 Office Supplies Expense 221 Notes Payable 537 Organizational Expenses 226 Interest Payable 562 Depreciation Expense-Equipment 231 Cash Dividends Payable 590 Miscellaneous Expense 241 Salaries Payable 710 Interest Expense 261 Mortgage Note Payable EQUITY 236 Stock Dividends Distributable 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock Chart of Accounts 231 Cash Dividends Payable 590 Miscellaneous Expense 241 Salaries Payable 710 Interest Expense 261 Mortgage Note Payable EQUITY 236 Stock Dividends Distributable 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322. Paid-In Capital in Excess of Par-Preferred Stock 331 Paid-In Capital from Sale of Treasury Stock 340 Retained Earnings 351 Cash Dividends 352 Stock Dividends doumaiene the transactions. (x) General Joumal 3