jw company was formed in 2014. His charter authorized the issuance of 500,000 shares of common stock, par value $5 per share, and 10,000 shares of 8% preffered stock par value $25 per share. The following transactions took place during 2014.

Jan 1: Sold and issued 25,000 shares of common sotck for cash at $25 per share

Feb 1: Sold and issued 5,000 shares of preferred stock for cash at $75 per share.

June 1: Repurchased 7500 shares of common stock at $25 per share

Aug 1: Sold 1000 shares of the Treasury stock at $26 per share

Oct 1: Sold another 1500 shares of Treasury stock at $23 per share

Dec 1: Declared cash dividend totaling $100,000

Dec 31: Paid the cash dividend that were declared

A) Prepare journal entry for each of the following transactions

B) Compute the number of shares of common stock issued and outstanding at Dec 31, 2014