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Italian Stallion has the following transactions during the year related to stockholders' equity. February 1 Issues 5,900 shares of no-par common stock for $15 per
Italian Stallion has the following transactions during the year related to stockholders' equity. February 1 Issues 5,900 shares of no-par common stock for $15 per share. May 15 Issues 700 shares of $10 par value, 12% preferred stock for $12 per share. october 1 Declares a cash dividend of $1.20 per share to all stockholders of record (both common and preferred) on 0ctober 15. October 15 Date of record. 0ctober 31 Pays the cash dividend declared on 0ctober 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.) Journal entry worksheet Record the issuance of 5,900 shares of no-par common stock for $15 per share. Note: Enter debits before credits
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