On January 1, 2018, Gerlach Inc. had the following account balances in its shareholders' equity accounts.

Common stock, $1 par, 245,000 shares issued	245,000
Paid-in capital - excess of par, common	490,000
Paid-in capital - excess of par, preferred	175,000
Preferred stock, $100 par, 17,500 shares outstanding	1,750,000
Retained earnings	3,500,000
Treasury stock, at cost, 4,500 shares	22,500

During 2018, Gerlach Inc. had several transactions relating to common stock.

January		15:		Declared a property dividend of 100,000 shares of Slowdown Company (book value $11.5 per share, fair value $9.75 per share).
February		17:		Distributed the property dividend.
April		10:		A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. The Fair value of the stock was $4 on this date. Hint: Debit Retained earnings.
July		18:		Declared and distributed a 3% stock dividend on outstanding common stock; fair value per share, $5.
December		1:		Declared a 50 cents per share cash dividend on the outstanding common shares.
December		20:		Paid the cash dividend.

Required: Record the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

1.

• Declared a property dividend of 100,000 shares of Slowdown Company (book value $11.50 per share, market value $9.75 per share).

Note: Enter debits before credits.

	Date General Journal Debit Credit January 15, 2018

2.

• Record the declaration of property dividend.

Note: Enter debits before credits.

	Date General Journal Debit Credit January 15, 2018

3.

• Distributed the property dividend.

Note: Enter debits before credits.

	Date General Journal Debit Credit February 17, 2018

4.

• A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. The market value of the stock was $4 on this date.

Note: Enter debits before credits.

	Date General Journal Debit Credit April 10, 2018

5.

• Declared and distributed a 3% stock dividend on outstanding common stock; market value per share, $5.

Note: Enter debits before credits.

	Date General Journal Debit Credit July 18, 2018

6.

• Declared a 50 cents per share cash dividend on the outstanding common shares.

Note: Enter debits before credits.

	Date General Journal Debit Credit December 01, 2018

7.

• Paid the cash dividend.

Note: Enter debits before credits.

	Date General Journal Debit Credit December 20, 2018