Golf Apparel has two classes of stock authorized: 5%,$10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 Issue 100,000 shares of common stock for $58 per share. February 14 Issue 48,000 shares of preferred stock for $11 per share. May 8 Purchase 10,000 shares of its own common stock for $48 per share. May 31 Resel1 5,000 shates of treastry stock for $53 per share. cash dividend on ita preferred stock payable to all stoekholders of record on December 15. The dividend is payable on December 30. (Hint; Dividends are not paid on tieeasury stock.) December 30 pay the cash dividends declared on December 1. Required: 1. Record each of these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the f account field.)