1. Record the following in the generaliqural: 2/15- Your Co. issued 7000 shares of preferred stock (54 per share par value ) and received a total of $140000 4/8. Your Co. issued 10500 shares of common stock ($2 per share par value ) and received a total of $105000. 6/22- Your Co. paid $45360 in dividends declared last year. 10/1- Your Co. declared a dividend of $0.5 per share on its $1 per share par value common stock. It issued 140000 shares, authorized 560000, & 126000 shares are outstanding. 12/5 Your Co. purchased back 3500 shares of its own common stock (par value of $2 per share) paying a total of $87500. General Journal Date Account/Explanation Debit Credit 2/15/X1 U PR 2 3 (Issue 7000 shares preferred stock) 4/8/X1 (Issue 10500 shares common stock) 6/22/X1 (Pay dividends) 10/1/X1 (Declare $0.50 per share dividend) 12/5/X1 (Purchase back Your Co, stock)