Equity Transactions Everbright Electric began its operations in January 20Y7. The transactions below occurred during its first year of operations. REQUIREMENT: Record the general journal entry needed for each transaction. Debit entries need to be listed first. Please do not indent credit entries. Dollar values need to be entered with no dollar sign and appropriate commas (e.g. 1.000). Every box needs an answer. If no account title is needed in a box, put 'Blank' in the space provided. If no dollar value is needed in a box, put 'o" in the space provided. The following account titles may be needed for this problem. Not all of them will be used: Cash, Common Stock, Preferred Stock, Paid-In Capital in Excess of Par Common Stock, Paid-In Capital in Excess of Par Preferred Stock, Treasury Stock, Retained Earnings, Dividends, Dividends Payable, Dividends Expense. Example: Borrowed $5,000 from a bank. Account Title Debit Credit Cash 5.000 O Notes Payable 0 5.000 Blank O O 1. On January 10, Everbright issued 24,000 shares of $5 par value common stock for $28 per share. Account Title Debit Credit Cash 672000 Common stock 120000 Paid in capital excess of 552000 2. On March 15. Everbright issued 1,800 shares of $8 par value, 5% preferred stock for $11 per share. Account Title Debit Credit 3. On October 20. Everbright repurchased 6,000 shares of its own common stock from the market for $30 per share. Account Title dit 4. Everbright declared the annual preferred stock dividend on December 15. The dividend will be paid to shareholders in the following year. Account Title Debit Credit 5. Everbright declared a $0.50 per share cash dividend to common stockholders on December 20. The dividend will be paid to shareholders in the following year. Account Title Debit Credit