Assignment Instructions: Mustang Inc. completed the following stock-related transactions during 2020. Record the transactions In Mustang's general journal on the "Worksheet" tab. If no entry is required, please state "no entry" or "n/a". Upload your file in Blackboard when you are finished. Jan. 25, 2020 Mustang declared a $70,000 cash dividend. The company currently has 3,000 shares of 4%, $175 par value cumulative preferred stock outstanding. The company did not pay any dividends in 2019. The company also has 100,000 shares of $1 par value common stock. Feb. 15, 2020 Mustang paid the cash dividends. July 5, 2020 The common stock split 2:1. August 2, 2020 Declared and immediately distributed a 10% stock dividend on the common stock. The market value at the time of the stock dividend was $20 per share. Oct. 10, 2020 Purchased 2,500 shares of treasury stock for $15 a share. Oct. 31, 2020 Sold 750 shares of the treasury stock for $24 a share. Nov. 22, 2020 Sold the remaining shares of treasury stock for $11 a share. Accounts Debits Credits Date Jan. 25, 2020 Leared a cast intend Feb. 15. 2020 Paidithecast dividend Jul. 5, 2020 Stoch sli Aug. 2 2020 Listributed' stod dwdend' Oct. 10. 2020 Pwofaced Trearwy Stock Oct. 31 2020 Sore Teaser Star Nov. 22. 2020 Sodd Treasury Stock