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1. Boston, Inc. is authorized to issue 250,000 shares of $5 par value common stock. During 2020, Bostons first year of operations, the company has the following stock transactions:

Jan. 15 Issued 20,000 shares of stock at $20 per share.

July 5 Purchased 1,000 shares of its own $5 par value common stock for $25

per share.

July 10 Declared a dividend of $.50 per share. The dividend is to be paid on August 1

to all shareholders of record on July 26.

July 26 Date of record for cash dividend.

Aug. 1 Paid the cash dividend.

Aug. 17 Sold 500 shares of treasury stock purchased for $29 per share.

Oct. 28 Sold the remaining shares of treasury stock purchased for $10 per share.

Nov. 15 Issued 2,000 shares of common stock in exchange for a vehicle. At that time, the stock

was selling for $17 per share and the market value of the vehicle was $38,000.

On the form provided on the following page, journalize the transactions for Boston, Inc. Omit explanations. (10 points)

Date	Account Titles	Debit	Credit

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