Donnie Hilfiger has two classes of stock authorized: $$1$ par preferred and $$0\mathrm{.}01$ par value common. As of the beginning of $2024,340$ shares of preferred stock and $4,400$ shares of common stock have been issued. The following transactions affect stockholders' equity during $2024$ :

March $1$ Issue $1,500$ shares of common stock for $$46$ per share.

May $15,$ Purchase $440$ shares of treasury stock for $$39$ per share.

July $10$ Resell $240$ shares of treasury stock purchased on May $15$ for $$44$ per share.

October $15$ Issue $240$ shares of preferred stock for $$49$ per share.

December $1$ Declare a cash dividend on both common and preferred stock of $$0\mathrm{.}90$ per share to all stockholders of record on December $15.($Hint: Dividends are not paid on treasury stock.$)$

December $31$ Pay the cash dividends declared on December $1.$

Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January $1,2024$ : Preferred Stock, $$340$; Common Stock; $$44$; Additional Paid$-$in Capital, $$78,000$; and Retained Earnings, $$31,300.$ Net income for the year ended December $31,2024,$ is $$11,600.$

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