Little League Apparel has two classes of stock authorized: $6\%,$ $$10$ par preferred, and $$1$ par value common. The following transactions affect stockholders$$ equity during $2024,$ its first year of operations:

January $2$ Issue $110,000$ shares of common stock for $$57$ per share.

February $14$ Issue $47,000$ shares of preferred stock for $$12$ per share.

May $8$ Purchase $11,000$ shares of its own common stock for $$47$ per share.

May $31$ Resell $5,500$ shares of treasury stock for $$52$ per share.

December $1$ Declare a cash dividend on its common stock of $$0\mathrm{.}65$ per share and a $$28,200(6\%$ of par value$)$ cash dividend on its preferred stock payable to all stockholders of record on December $15.$ The dividend is payable on December $30.($Hint: Dividends are not paid on treasury stock.$)$

December $30$ Pay the cash dividends declared on December $1.$

Problem $10-6$A $($Algo$)$ Part $1$

Required:

$1.$ Record each of these transactions.