Court Casuals has $200,000$ shares of common stock outstanding as of the beginning of the year and has the following transactions affecting stockholders' equity during the year:

May $18$ Issues $22,000$ additional shares of $$1$ par value common stock for $$39$ per share.

May $31$ Purchases $5,000$ shares of treasury stock for $$43$ per share.

July $1$ Declares a cash dividend of $$1$ per share to all stockholders of record on July $15.$ Hint: Dividends are not paid on treasury stock.

July $31$ Pays the cash dividend declared on July $1.$

August $10$ Resells $2,600$ shares of treasury stock purchased on May $31$ for $$49$ per share.

Required:

Record each of these transactions. $($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

Journal entry worksheet

$1$

$2$

$3$

$4$

$5$

$6$

Record the resale of $2,600$ shares of treasury stock purchased on May $31$ for $$49$ per share.

Note: Enter debits before credits.

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