exercise Record common stock, treasury stock, and cash dividends (LO10-2, 10-4, 10-5) March A company designs and produces a line of golf equipment and golf apparel. The company has 100,000 shares of common stock outstanding as of the beginning of Year 1. The company has the following transactions affecting stockholders' equity in Year 1. 1 Issues 45,00 additional shares of $1 par value common stock for $42 per share. May 10 Purchases 4,000 shares of treasury stock for $45 per share. June 1 Declares a cash dividend of $1.ee per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) July 1 Pays the cash dividend declared on June 1. October 21 Resells 2,800 shares of treasury stock purchased on May 10 for $50 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.) ences Journal entry worksheet 1 2 3 5 Record the declaration of a cash dividend of $1.00 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) ces Note: Enter debits before credits. General Journal Debit Date June 01 Credit Dividends Payable Record entry Clear entry View general journal Journal entry worksheet 2 3 4. 5 Record payment of the cash dividend declared on June 1. tes Note: Enter debits before credits: Date Debit Credit July 01 General Journal Dividends Payable Cash Record entry Clear entry View general journal