Carmen Company a publicly traded company with preferred and common stock issued. As of January 1st, it had 50,000 shares of $100 par, 2% preferred stock outstanding and 250,000 shares of $10 par common stock outstanding.

(a) On January 31st, the Board of Directors issues a requirement to purchase 5,000 shares of its common stock at market price. The shares are purchased at a market price of $22 per share. Journalize the purchase utilizing the cost concept.

(b) On March 15th, Carmen declares a dividend on preferred stock of $2.75 per share. The date of record is March 25th and the date of payment is March 31st. Journalize these events.

(c) On December 1st, Carmen declares a cash dividend on common stock of $0.12 per share. The date of record is December 15th and the date of payment is December 21st. Journalize these events.

(d) On December 27th the board orders that 2,500 shares of treasury stock be sold. The sale price is $25 per share. Journalize this event.