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Problem 10-6A (Static) Record equity transactions and prepare the stockholders' equity section (LO10-2, 103,104,105,107) [The...

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Problem 10-6A (Static) Record equity transactions and prepare the stockholders' equity section (LO10-2, 103,104,105,107) [The following information applies to the questions displayed below] Major League Apparel has two classes of stock authorized. 6%,$10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 Issue 110,000 shares of comon stock for $70 per share. February 14 Issue 60,000 shares of preferred stock for $12 per share. May 8 Purchase 11, eae shares of its chm common stock for 569 per share. May 31 Resell 5,500 shares of treasury stock for 565 per share. December 1 Declare a cash dividend on its common stock of $0.25 per share and a $36,000 (6v of par value) cash dividend on its preferred stock payable to ati stockholders of record on Decenber 15. The dividend is payable on December 30. (Hint: Dividends are not paid on treasury stock.) Decenber 30 pay the cash dividends declared on December 1. Problem 10-6A (Static) Part 1 Required: 1. Record each of these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

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