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 Tosue 100,000 shares of common stock for $52 per share. February 14 Issue 42,000 shares of preferred stock for $11 per share. May 8 Purchase 10,000 shares of its own common stock for $42 per share. May 31 Resell 5,000 shares of treasury stock for $47 per share. December 1 Declare & cash dividend on its common stock of $0.35 per share and a $21,000 (56 of phar 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 dividenda declared on December 1. Required: 1. Record each of these transactions. (If no entry is required for a particular transaction, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 6 > Record the declaration of a cash dividend payable to stockholders of record on December 15 Note: Enter debits before credits General Journal Date December 15, 2021 Dobit Credit