Howard Inc. reports the following transactions relating to its stock accounts.

Jan 1 Issued 40,000 shares of $8 par value common stock at $20 each per share.

Mar 5 Issued 8,000 shares of $35 par value, 6% preferred stock at $50 cash per share.

June 15 Purchased 7,000 shares of its own common stock at $18 cash per share.

Aug 4 Sold 6,500 shares of the treasury stock at $28 cash per share.

Sep 15 Declared a 5% common stock dividend when the market price of its $8 par value common stock was $20 per share. Patrick Inc. has 395,000 shares of stock outstanding.

Dec 31 Declared and paid a quarterly cash dividend of $124,000

1) Please provide the journal entries for each of the transactions above.

2) Please calculate the amount and indicate whether on the Debit or Credit side for the "Cash" Account and "Additional Paid-in Capital" Account.