Great Adventures Problem 10-1 The following information applies to the questions displayed below.j Tony and Suzie purchased land costing $500,000 for a new camp in January 2020. Now they necd moncy to build the cabins, dining facility, a ropes course, and an outdoor swimming pool. Tony and Suzic first checked with Summit Bank to see if they could borrow another million dollars, but unfortunately the bank turned them down as too risky. Undeterred, they promoted their idea to close friends they had made through the outdoor clinics and TEAM events. They decided to go ahead and sell shares of stock in the company to raise the additional funds for the camp. Great Adventures has two classes of stock authorized: 8% $10 par preferred, and $1 par value common. When the company began on July 1. 2018, Tony and Suzie each purchased 10,000 shares of $1 par value common stock at $1 per share. The following transactions affect stockholders' equity during 2020, its third year of operations: Juty 2 Issue an adcdltional 100,000 shares of common stock for $15 per share. September 10 Repurchase 10,000 shares of its own common stock (i.e., treasury stock) for $18 per share November 15 Relssue 5,000 shares of treasury stock at $19 per share December 1 Declare a cash dividend on its common stock of $115,000 ($1 per share) to all stockholders of record on December 15. December 31 Pay the cash dlvidend declared on December 1 References oblem 10- Section Break Great Adventures Problem 10-1 1. Required information 10.00 points Great Adventures Problem 10-1 Part1 Required: 1. Record each of these transactions. (If no entry Is required for a transactlon/event, select "No Journal entry required" In the first account fleld.) View transaction list value: 10.00 points Great Adventures Problem 10-1 Part 1 Required: 1. Record each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list Journal entry worksheet 4 Repurchase 10,000 shares of its own common stock (i.e., treasury stock) for $18 per share. Note: Enter debits before credits Date General Journal Debit Credit September 10, 2020 Record entry Clear entry View general journal value: 10.00 points Great Adventures Problem 10-1 Part 1 Required 1. Record each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 4 5 Reissue 5,000 shares of treasury stock at $19 per share. Note: Enter debits before credits. General Journal Credit Date Debit November 15, 2020 Clear entry Record entry View general journal Required Information 10.00 points Great Adventures Problem 10-1 Part 1 Required: 1. Record each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Declare a cash dividend on its common stock of $115,000 ($1 per share) to all stockholders of record on December 15 Nate: Enter debits befere credils. General Journal Date Debit Credit December 01. 2020 Record entry Clear entry View general journal alue Required informatl 10.00 points Great Adventures Problem 10-1 Part 1 Required: 1. Record each of these transactions. (If no entry is required for a transactionlevent, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the entry on the date of record. Nute: Enter debits before credits General Journal Credit Date Debit Docember 15, 2020 Record entry Clear entry View general journal Req 10.00 points Great Adventures Problem 10-1 Part 1 Required 1. Record each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Pay the cash dividend declared on Dec. 1 Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2020 Record entry Clear entry View general journal