On january 1, 2018, magnus corporation had 60,000 shares of $1 par value common stock issued and outstanding. during the year, the following transactions occurred: mar. 1 issued 35,000 shares of common stock for $550,000. june 1 declared a cash dividend of $2.00 per share to stockholders of record on june 15. july 30 paid the $2.00 cash dividend. dec. 1 purchased 5,000 shares of common stock for the treasury for $22 per share. dec. 15 declared a cash dividend on outstanding shares of $2.20 per share to stockholders of record on december 31.
prepare journal entries to record the above transactions.