U-Like Corporation presented the following shareholders' equity as at 31 December 2018.

Share Capital - Ordinary, $25 par value; 60,000 shares authorized; 50,000 shares issued and outstanding

$1,250,000

Share Premium - Ordinary

50,000

Share Capital - Preference, no par; 30,000 shares authorized, 10%, noncumulative, nonparticipating; 10,000 shares issued and outstanding

600,000

Retained Earnings

370,000

Total Shareholders' Equity

$2,270,000

In 2019, the following transactions affected its shareholders' equity accounts.

2-Jan

Issued 2,000 ordinary shares for $28 cash per share

6-Jan

Exchanged 2,500 preference shares for equipment and merchandise inventory with market value $120,000 and $45,000, respectively.

15-Jan

Purchased 2,500 of its own ordinary shares at $25 cash per share

25-Jan

Directors declared a $3 per ordinary share cash dividend payable on February 28 to the February 9 shareholders of record

28-Feb

Paid the dividend declared on January 25

9-Jul

Sold 1,000 of its treasury shares at $30 cash per share

27-Aug

Sold 1,500 of its treasury shares at $20 cash per share

9-Sep

Directors declared a $2 per share cash dividend payable on October 22 to the September 23 shareholders of record

22-Oct

Paid the dividend declared on September 9

31-Dec

Closed the $12,000 credit balance (from net profit) in the Income Summary account to Retained Earnings.

Required

Prepare journal entries to record each of these transactions for 2019. Narratives are not required.