Coffey's Coffee Shop was organized on January 1, 2005 and was authorized to issue 200,000 shares of $2 par value common stock and 100,000 shares of $100, 6% cumulative preferred stock. The preferred stock is convertible to common at the rate of 1 preferred share to 4 shares of common. The conversion rate is restated for all stock dividends and splits. Coffee had the following stock transactions in 2005:
1/1/2005 - Sold 30,000 shares of common stock at $20 per share.
1/1/2005 - Sold 10,000 shares of preferred stock at $100 per share.
4/1/2005 - Issued at 50 percent stock dividend when the market price is $26 per share.
9/1/2005 - Purchased 4,000 treasury shares at $30 per share.
10/1/2005 - Sold 1,000 of the treasury shares at $32 per share.
11/1/2005 - Sold 2,000 of the treasury shares at $25 per share.
12/1/2005 - Issued a 2-1 for stock split.
12/20/2005 - Declared the required dividend to preferred stock holders and a $.25 per share dividend to common stockholders. Dividends are payable on 12/31/2005.
12/31/2005 - Paid dividends declared on 12/20/2005.
Prepare journal entries to record all of the above business events.