Journal entry worksheet < 2 3 4 6 7 Record the entry on December 15, the date of record. Note: Enter debits before credits. Date December 15, 2024 General Journal Debit Credit Record entry Clear entry View general journal #2 ces Problem 10-2A (Algo) Record equity transactions and indicate the effect on the balance sheet equation (LO10-2, 10-3, 10-4, 10-5) [The following information applies to the questions displayed below.] Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2024, 400 shares of preferred stock and 5,000 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024: March 1 May 15 July 10 October 15 December 1 Issue 2,100 shares of common stock for $52 per share. Purchase 500 shares of treasury stock for $45 per share.. Resell 300 shares of treasury stock purchased on May 15 for $50 per share. Issue 300 shares of preferred stock for $55 per share. Declare a cash dividend on both connon and preferred stock of $1.50 per share to all stockholders of record on December 15. (Hint: Dividends are not paid on treasury stock.) December 31 Pay the cash dividends declared on December 1. Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, $400; Common Stock, $50; Additional Paid-in Capital, $81,000; and Retained Earnings, $32,500. Net income for the year ended December 31, 2024, is $12,800.