National League Gear has two classes of stock authorized: 6%, $20 par preferred, and $5 par value common. The following transactions affect stockholders equity during 2021, National Leagues first year of operations:

February	2		Issue 1.3 million shares of common stock for $28 per share.
February	4		Issue 530,000 shares of preferred stock for $22 per share.
June	15		Purchase 130,000 shares of its own common stock for $23 per share.
August	15		Resell 97,500 shares of treasury stock for $38 per share.
November	1		Declare a cash dividend on its common stock of $1.30 per share and a $636,000 (6% 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. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)