National League Gear has two classes of stock authorized: 5%, $20 par preferred, and $5 par value common. The following transactions affect stockholders equity during 2024, National Leagues first year of operations:

February 2	Issue 1.4 million shares of common stock for $21 per share.
February 4	Issue 460,000 shares of preferred stock for $24 per share.
June 15	Purchase 140,000 shares of its own common stock for $16 per share.
August 15	Resell 105,000 shares of treasury stock for $31 per share.
November 1	Declare a cash dividend on its common stock of $1.40 per share and a $460,000 (5% of par value) cash dividend on its preferred stock payable to all stockholders of record on November 15. (Hint: Dividends are not paid on treasury stock.)
November 30	Pay the dividends declared on November 1.

Required:

1. Record each of these transactions in journal entry form.