Ch 10 Homework You received partial credit in the previous attempt. Part 1 of 2 Required information Problem 10-6A Record equity transactions and prepare the stockholders' equity section (L010-2, 10-3, 10. 4, 10-5, 10-7) The following information applies to the questions displayed below) Major League Apparel has two classes of stock authorized 6%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: (8 02:30 January 2 Issue 110.000 shares of common stock for $70 per share. February 14 Issue 5.0 shares of preferred stock for $12 per share. Purchase 11,eee shares of its own common stock for $60 per share. 31 Resell 5,5ee shares of treasury stock for $65 per share. December 1 Declare a cash dividend on its common stock of $0.25 per share and a $36.000 (54 of par value) cash dividend on its preferred stock payable to all stockholders of record on December 15. The dividend is payable on December 30. (Hint: Dividends are not paid on treasury stock.) December 30 Pay the cash dividends declared on December 1. May May Problem 10-6A Part 1 Required: 1. Record each of these transactions. Of no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list View journal entry worksheet No Debit Credit 1 7,700 000 Date General Journal January 02, 2021 Cash Common Stock Additional Pardin Capital 110.000 7 500.000 720.000 February 14, 2021 Cash Preferred Stock Additional Pardin Capital 600,000 120,000 3 May 08,2021 Treasury Stock 660,000