Item 1: On January 1,2023 , Entity L had 40,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Mar. 1 Issued 30,000 shares of common stock at $10 per share. June 1 Declared a cash dividend of $2 per share to stockholders of record on June 15 June 30 Paid the $2 cash dividend Dec. 1 Purchased 1,000 shares of common stock for the treasury for $13 per share Instructions: Prepare journal entries to record the above transactions. Show your calculations