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May June Power Drive Corporation designs and produces a line of golf equipment and golf...

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May June Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100,000 shares of common stock outstanding as of the beginning of 2021. Power Drive has the following transactions affecting stockholders' equity in 2021. March 1 Issues 5e,eee additional shares of si par value common stock for $47 per share. 10 Purchases 4,500 shares of treasury stock for $50 per share. 1 Declares a cash dividend of $1.25 per share to all stockholders of record on June 15. (Hint: dividends are not paid on treasury stock.) July 1 Pays the cash dividend declared on June 1. October 21 resells 2,25e shares of treasury stock purchased on May 18 for $55 per share. 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 fleld.) Answer is not complete. No Date General Journal Credit 1 March 01, 2021 Cash Debit 2,350,000 Common Stock Additional Paid in Capital 50,000 2.300.000 OO 2 May 10, 2021 Treasury Stock Cash 225,000 slo 225,000 3 June 01, 2021 Dividends Dividends Payable O 4 July 01, 2021 Dividends Payable Cash DO 5 123.750 October 21, 2021 Cash Treasury Stock Additional Paid in Capital Solo 123.750 X

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