Cheyenne Company reported the following amounts in the stockholders equity section of its December 31, 2019, balance sheet.

Preferred stock, 11%, $100 par (10,000 shares authorized, 2,100 shares issued)		$210,000
Common stock, $5 par (91,000 shares authorized, 18,200 shares issued)		91,000
Additional paid-in capital		130,000
Retained earnings		448,000
Total		$879,000

During 2020, Cheyenne took part in the following transactions concerning stockholders equity.

1.		Paid the annual 2019 $11 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019.
2.		Purchased 1,800 shares of its own outstanding common stock for $43 per share. Cheyenne uses the cost method.
3.		Reissued 800 treasury shares for land valued at $35,100.
4.		Issued 540 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 2020 $11 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2021.

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 for the amounts.) No. Account Titles and Explanation Debit Credit 1. Dividends Payable - Preferred 23100 Dividends Payable-Common 36400 Cash 59500 2 Treasury Stock 77400 Cash 77400 3. Land 35100 Treasury Stock 34400 Pald-in Capital from Treasury Stock 700 Cash 57780 Preferred Stock 54000 Pald-In Capital In Excess of Par-Preferred Stock 3780 5. Retained Earnings 79120 Common Stock Dividend Distributable 8600 Pald-in Capital in Excess of Par - Common Stock 70520 5. Common Stock Dividend Distributable 21000 Common Stock 21000 7 Retained Earnings Dividends Payable - Preferred TH 31460 Dividends Payable - Common