Anne Cleves Company reported the following amounts in the stockholders' equity section of its December 31, 2013, balance sheet Preferred stock, 9%, $100 par (10,000 shares authorized, 2,220 shares issued) Common stock, $5 par (112,800 shares authorized, 22,560 shares issued) Additional paid-in capital Retained earnings $222,000 112,800 127,000 478,700 Total $940,500 During 2014, Cleves took part in the following transactions concerning stockholders' equity 1. Paid the annual 2013 $9 per share dividend on preferred stock and a $3 per share dividend on common stock. These dividends had been declared on December 31, 2013 2. Purchased 1,600 shares of its own outstanding common stock for $38 per share. Cleves uses the cost method 3. Reissued 680 treasury shares for land valued at $32,350 4. Issued 590 shares of preferred stock at $107 per share 5. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $46 per share 6. Issued the stock dividend 7. Declared the annual 2014 $9 per share dividend on preferred stock and the $3 per share dividend on common stock. These dividends are payable in 2015 (a) Prepare journal entries to record the transactions described above. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Account Titles and Explanation Debit Credit , T Dividends Payable-Preferred Stock 19980 Dividends Payable-Common Stock 67680 Cash 87660 2 Treasury Stock 60800 Cash 60800 Land 32350 Treasury Stock 25840 Paid-in Capital From Treasury Stock 6510 4 Cash 63130 Preferred Stock 59000 Paid-in Capital in Excess of Par-Preferred Stock 4130 Retained Earnings 99544 Common Stock Dividend Distributable 10820 Paid-in Capital in Excess of Par-Common Stock 88724 6 Common Stock Dividend Distributable 10820 Common Stock 10820 Retained Earnings Dividends Payable-Preferred Stock 25290 Dividends Payable-Common Stock