Gryfindor Corporation has 100,000 shares of $1 par common stock outstanding as of the beginning of 2022. Prepare the journal entries for the following transactions for 2022. Indicate "No Entry" if no journal entry is necessary. May 18 Issued 20,000 additional shares of $1 par value common stock for $40 per share. May 31 Repurchased 4,000 shares of treasury stock for $45 per share. July 1 Declared a cash dividend of $1 per share to all stockholders of record on July 15. July 15 Date of record for the dividend declared on July 1 . Stockholders of record are entitled to the dividend to be paid out on July 31. July 31 Paid the cash dividend declared on July 1. August Reissued 2,500 shares of treasury stock purchased on May 31 for 10$46 per share. August Reissued the remaining shares of treasury stock purchased on 20 May 31 for $42 per share. Equipment with an original cost of $30,000 was sold for $5,000. August The equipment was originally purchased on July 1,2020 . The 31 equipment was estimated to have a useful life of 9 years and a $3,000 salvage value. Assume straight-line depreciation was used. Nov. 15 Declared and distributed a 10% stock dividend on all shares outstanding. The stock price on this date was $44 per share. Recorded the adjustment for uncollectible accounts, which are estimated to be 1% of credit sales for the year. Credit sales for Dec. 312022 amounted to $4,600,000. The balance in the allowance fo bad debts on January 1,2022 was $40,000. Total writeoffs in 2022 (already recorded) amounted to $38,000