Exercise 10-6 (Static) Record common stock, preferred stock, and dividend transactions (LO10-2, 10-3, 10-5) Italian Stallion has the following transactions during the year related to stockholders' equity. February 1 Issues 6,000 shares of no-par common stock for $16 per share. May 15 Issues 700 shares of $10 par value, 12.5% preferred stock for $13 per share. October 1 Declares a cash dividend of $1.25 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" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 Record the issuance of 6,000 shares of no-par common stock for $16 per share... Journal entry worksheet 1 2 3 4 5 Record the issuance of 700 shares of $10 par value, preferred stock for $13 per share. Note: Enter debits before credits. Date May 15 General Journal Debit Credit 7 Record entry Clear entry View general journal Journal entry worksheet 2 4 5 Record the declaration of a cash dividend of $1.25 per share to all stockholders of record (both common and preferred) on October 15. Note: Enter debits before credits. Date October 01 General Journal Debit Credit Record entry Clear entry View general journal es Journal entry worksheet 1 2 3 4 5 Record the entry on the date of record. Note: Enter debits before credits. Date October 15 General Journal Debit Credit Record entry Clear entry View general journal ces Journal entry worksheet < 1 2 3 4 5 Record payment of the cash dividend declared on October 1. Note: Enter debits before credits. Date October 31 General Journal Debit Credit Record entry Clear entry View general journal