Italian Stallion has the following transactions during the year related to stockholders equity.

February 1 Issues 4,900 shares of no-par common stock for $14 per share.

May 15 Issues 700 shares of $10 par value, 7% preferred stock for $11 per share.

October 1 Declares a cash dividend of $0.70 per share to all stockholders of record (both common and preferred) on October 15.

October 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 transaction/event, select "No journal entry

• 1.
  Issues 4,900 shares of no-par common stock for $14 per share.
• 2.
  Issues 700 shares of $10 par value preferred stock for $11 per share.
• 3.
  Declares a cash dividend of $0.70 per share to all stockholders of record (both common and preferred) on October 15.
• 4.
  Date of record.
• 5.
  Pays the cash dividend declared on October 1.