Blue Spruce' paid no dividends during 2013. It records common and preferred dividends in separate liability accounts. Its stockholders' equity consists of the following on January 1, 2014: Stockholders' Equity Paid-in capital Capital stock Preferred stock, 4%, $50 par value, cumulative, 80,000 shares authorized, 15,360 shares issued and outstanding $768,000 Common stock, no par, $0.50 stated value, 1,000,000 shares authorized, 512,000 shares issued and outstanding 256,000 Total capital stock 1,024,000 Additional paid-in capital Paid-in capital in excess of par value-preferred stock $179,200 Paid-in capital in excess of stated value-common stock 281,600 460,800 Total paid-in capital 1,484,800 Retained earnings 998,400 Total stockholders' equity $2,483,200 Prepare the appropriate journal entries, if any, for the following transactions in 2014. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Jan. 25 Issued 10,240 shares of common stock for $12 per share. The Board of Directors declared a cash dividend on preferred and common stock totaling $79,360, payable on March 15, to stockholders of record on February 28. Feb. 18 Feb. 28 Date of record for cash dividends on preferred and common stock. Mar. 15 Paid the cash dividend to preferred and common stockholders. July 7 Purchased 7,680 shares of common stock for the treasury at $15 per share. Date Account Titles and Explanation Debit Credit Blue Spruce' paid no dividends during 2013. It records common and preferred dividends in separate liability accounts. Its stockholders' equity consists of the following on January 1, 2014: Stockholders' Equity Paid-in capital Capital stock Preferred stock, 4%, $50 par value, cumulative, 80,000 shares authorized, 15,360 shares issued and outstanding $768,000 Common stock, no par, $0.50 stated value, 1,000,000 shares authorized, 512,000 shares issued and outstanding 256,000 Total capital stock 1,024,000 Additional paid-in capital Paid-in capital in excess of par value-preferred stock $179,200 Paid-in capital in excess of stated value-common stock 281,600 460,800 Total paid-in capital 1,484,800 Retained earnings 998,400 Total stockholders' equity $2,483,200 Prepare the appropriate journal entries, if any, for the following transactions in 2014. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Jan. 25 Issued 10,240 shares of common stock for $12 per share. The Board of Directors declared a cash dividend on preferred and common stock totaling $79,360, payable on March 15, to stockholders of record on February 28. Feb. 18 Feb. 28 Date of record for cash dividends on preferred and common stock. Mar. 15 Paid the cash dividend to preferred and common stockholders. July 7 Purchased 7,680 shares of common stock for the treasury at $15 per share. Date Account Titles and Explanation Debit Credit