Native Corp. reports the following transactions for 2020: (Click the icon to view the transactions.) Required. Prepare journal entries for the transactions. Explanations are not required. January 27: Sold 22,000 common shares for $5 per share. Date Jan. 27 2020 Transactions Journal Entry Accounts Debit Credit Jan. 27 Feb. 1 February 1: Sold 6,500 shares of $1.00, noncumulative, preferred shares for $75 per share. Date Feb. 1 2020 Journal Entry Accounts Debit Credit Oct. 13 Nov. 16 Dec. 11 Sold 22,000 common shares for $5 per share. Sold 6,500 shares of $1.00, noncumulative, preferred shares for $75 per share. Declared a 10 percent stock dividend on the common shares. The current market price of the common shares is $7 per share. There are 87,000 common shares outstanding on October 13. Distributed the stock dividend declared on October 13. Declared the annual dividend required on the preferred shares and a $0.45 per share dividend on the common shares. There are 12,000 preferred shares outstanding at this time. Print Done October 13: Declared a 10% stock dividend on the common shares. The current market price of the common shares is $7 per share. There are 87,000 common shares outstanding on October 13. Journal Entry Date Oct. 13 2020 Accounts November 16: Distributed the stock dividend declared on October 13. Date Nov. 16 2020 Journal Entry Accounts Debit Credit Debit Credit December 11: Declared the annual dividend required on the preferred shares and a $0.45 per share dividend on the common shares. There are 12,000 preferred shares outstanding at this time. Journal Entry Date Dec. 2020 11 Accounts Debit Credit -