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Exercise 10-5A Record common stock, preferred stock, and dividend transactions (LO10-2, 10-3, 10-5) Italian Stallion...

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Exercise 10-5A Record common stock, preferred stock, and dividend transactions (LO10-2, 10-3, 10-5) Italian Stallion has the following transactions during the year related to stockholders' equity. February 1 Issues 4,200 shares of no-par common stock for $15 per share. May 15 Issues 200 shares of $10 par value, 3.58 preferred stock for $12 per share. October 1 Declares a cash dividend of 50.35 per share to all stockholders of record (both common and preferred) on October 15. October 15 Date of record. October 31 Pays the cash dividend declared on october 1. Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the issuance of 4,200 shares of no-par common stock for $15 per share

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