Exercise 10-12 (Algo) Record common stock, treasury stock, and cash dividends (LO10-2, 10-4, 10-5) Bay Meadows Corporation designs and produces a line of golf equipment and golf apparel. Bay Meadows has 100,000 shares of common stock outstanding as of the beginning of 2024. Bay Meadows has the following transactions affecting stockholders' equity in 2024. March 1 May 10 June 1 July 1 Issues 59,000 additional shares of $1 par value common stock for $56 per share. Purchases 5,400 shares of treasury stock for $59 per share. Declares a cash dividend of $1.70 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) Pays the cash dividend declared on June 1. October 21 Resells 2,700 shares of treasury stock purchased on May 10 for $64 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.) ok ht View transaction list 1 Record the issuance of 59,000 additional shares of $1 par value common stock for $56 per share. ences hon stock 2 Record the purchase of 5,400 shares of treasury stock for $59 per share. 3 Record the declaration of a cash dividend of $1.70 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) Credit 4 Record payment of the cash dividend declared on June 1. 5 Record the resale of 2,700 shares of treasury stock purchased on May 10 for $64 per share