ISSUANCE OF STOCK AND DIVIDENDS Shawn Delo decides to start a new company in January 2019 that will be operated as a corporation, Delo Outdoor Equipment (DOE). This company will sell outdoor clothing and equipment. Delo Outdoor Equipment had the following select transactions in 2019: Jan. 1 Issued 70,000 shares of $5 par value common stock on the market for $8 a share. Issued 10,000 shares of 3%, $8 par value preferred stock for $100,000. Declared total cash dividends of $10,000. 10 Dec. 15 31 Paid the cash dividends. 31 Purchased 100 shares of treasury stock at $10 per share

how would you solve the Jonrnal entries?

ISSUANCE OF STOCK AND DIVIDENDS Shawn Delo decides to start a new company in January 2019 that will be operated as a corporation, Delo Outdoor Equipment (DOE). This company will sell outdoor clothing and equipment. Delo Outdoor Equipment had the following select transactions in 2019: \begin{tabular}{|c|l|} \hline Jan. 1 & Issued 70,000 shares of $5 par value common stock on the market for $8 a share. \\ \hline 10 & Issued 10,000 shares of 3%,$8 par value preferred stock for $100,000. \\ \hline Dec,15 & Declared total cash dividends of $10,000. \\ \hline 31 & Paid the cash dividends. \\ \hline 31 & Purchased 100 shares of treasury stock at $10 per share \\ \hline \end{tabular}