Instructions Journalize the entries to record the transactions. Identify each entry by letter. OBJ, 3, 4, 5, 6 Entries for selected corporate transactions PR 13-4B Nav-Go Enterprises Inc, produces aeronautical navigation equipment. The stockholders' equity accounts of Nav-Go Enterprises Inc., with balances on January 1, 2014, are as follows: Common Stock, $5 stated value (900,000 shares authorized, 620,000 shares issued)... .. Paid-In Capital in Excess of Stated Value-Common Stock. Retained Earnings $3,100,000 1,240,000 4,875,000 288,000 Treasury Stock (48,000 shares, at cost) The following selected transactions occurred during the year: Jan. 15. Paid cash dividends of $0.06 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $34,320. Mar. 15. Sold all of the treasury stock for $6.75 per share. Apr. 13. Issued 200,000 shares of common stock for $8 per share. June 14. Declared a 3% stock dividend on common stock, to be capitalized at the market price of the stock, which is $7.50 per share. July 16. Issued the certificates for the dividend declared on June 14. share. per Oct. 30. Purchased 50,000 shares of treasury stock for $6 Dec. 30. Declared a $0.08-per-share dividend on common stock. 31. Closed the credit balance of the income summary account, $775,000. 31. Closed the two dividends accounts to Retained Earnings. Instructions 1. Enter the January 1 balances in T accounts for the stockholders' equity accounts listed Also prepare T accounts for the following: Paid-In Capital from Sale of Treasury Stoc Stock Dividends Distributable; Stock Dividends; Cash Dividends. 2. Journalize the entries to record the transactions, and nost to Counts 3-4A 2. Common Stock Jan. 7,500,000 1 Bal. Apr. 10 1,500,000 360,000 Aug. 15 9,360,000 Dec. 31 Bal. Paid-In Capital in Excess of Stated Value-Common Stock 825,000 Jan. 1 Bal. 300,000 Apr. 10 90,000 July 5 1,215,000 Dec. 31 Bal. Retained Earnings 33,600,000 1 Bal. Jan. 493,800 31 Dec. 1,125,000 31 Dec. 34,231,200 Dec. 31 Bal. Treasury Stock 450,000 450,000 Jan. 1 Bal. Nov. 23 June 6 570,000 570,000 Dec. 31 Bal. Pald-In Capital from Sale of Treasury Stock 200,000 June Stock Dividends Distributable 360.000 360,000 July Aug. 15 Stock Dividends