Major League Apparel has two classes of stock authorized: 5%, $10 par preferred, and $1 par value common. The following transactions affect stockholders equity during 2021, its first year of operations:

January		2		Issue 100,000 shares of common stock for $63 per share.
February		14		Issue 53,000 shares of preferred stock for $11 per share.
May		8		Purchase 10,000 shares of its own common stock for $53 per share.
May		31		Resell 5,000 shares of treasury stock for $58 per share.
December		1		Declare a cash dividend on its common stock of $0.65 per share and a $26,500 (5% 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

1 2 3 4 5 6 7 > Record the issuance of 100,000 shares of common stock for $63 per share. ote: Enter debits before credits. General Journal Debit Credit Date January 02, 2021 Record entry Clear entry View general journal Journal entry worksheet Record the resell of 5,000 shares of treasury stock for $58 per share. Note: Enter debits before credits. General Journal Debit Credit Date May 31, 2021 Record entry Clear entry View general journal Journal entry worksheet Record the declaration of a cash dividend payable to stockholders of record on December 15. Note: Enter debits before credits. General Journal Debit Credit Date December 15, 2021 Record entry Clear entry View general journal Journal entry worksheet