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Exercise 10-6 (Algo) Record common stock, preferred stock, and dividend transactions (LO10-2, 10-3, 105) Italian Stallion has the following transactions during the year related to stockholders' equity. February 1 Issues 4,500 shares of no-par common stock for $15 per share. May 15 Issues 800 shares of $10 par value, 5% preferred stock for $12 per share. October 1 Declares a cash dividend of $0.50 per share to all stockholders of record (both common and preferred) on Dctober 15. 0ctober 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.) Exercise 10-6 (Algo) Record common stock, preferred stock, and dividend transactions (LO10-2, 10-3, 105) Italian Stallion has the following transactions during the year related to stockholders' equity. February 1 Issues 4,500 shares of no-par common stock for $15 per share. May 15 Issues 800 shares of $10 par value, 5% preferred stock for $12 per share. October 1 Declares a cash dividend of $0.50 per share to all stockholders of record (both common and preferred) on Dctober 15. 0ctober 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.)