Question 16 - Journalize the following transactions On January 1, 2019, CD Audio and Video Inc. issues 20,000 shares of $8 par value common stock for $10. On January 15, 2019, the company issues 5,000...

Extracted text: Question 16 - Journalize the following transactions On January 1, 2019, CD Audio and Video Inc. issues 20,000 shares of $8 par value common stock for $10. On January 15, 2019, the company issues 5,000 shares of preferred stock 2% stock, $100 par value for $125. On October 1, 2019 declare a dividend of $30,000. December 15, 2019, Journalize the payment of dividends on December 15th. On December 20, 2019, CD Corporation re-acquires 5,000 shares of common stock for $15. On January 15, 2020, 2,000 shares of the re-acquired stock were sold $17.