On January 1, 2010, Anderson Corporation had 60,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred:

Mar.      1      Issued 30,000 shares of common stock for $300,000.

June     1      Declared a cash dividend of $1.50 per share to stockholders of record on June 15.

June   30      Paid the $1.50 cash dividend.

Dec.     1      Purchased 5,000 shares of common stock for the treasury for $20 per share.

Dec.    15     Declared a cash dividend on outstanding shares of $2 per share to stockholders     of record on December 31.

Instructions

Prepare journal entries to record the above transactions. Use the template below.