Exercise $10-5$B Record common stock, preferred stock, and dividend transactions $($LO$10-2,10-3,10-5)$

A company has the following transactions during the year related to stockholders' equity.

February $1$ Issues $5,300$ shares of no$-$par common stock for $$15$ per share.

May $15$ Issues $600$ shares of $$10$ par value, $9\%$ preferred stock for $$12$ per share.

October $1$ Declares a cash dividend of $$0\mathrm{.}90$ per share to all stockholders of record $($both common and preferred$)$ on October $15.$

October $15$ Date of record.

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

Required:

Record each of these transactions. $($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" i

the first account field.$)$

Journal entry worksheet

$1$

$2$

$3$

$4$

$5$

Record the issuance of $5,300$ shares of no$-$par common stock for $$15$ per

share.

Note: Enter debits before credits.