On Dec. 31,207 Raleigh Corp had the following balances (all balances are normal)

Preferred stock ($50 par value, 6% noncumulative, 80,000 shares authorized, 20,000 shares issued and outstanding)...... $1,000,000

Common stock ($5 par value, 400,000 shares authorized, 300,000 shares issued and outstanding)........... $1,500,000

Paid in Capital in excess of par, common....... $475,000

Retained earnings...... $820,000

Prepare journal entries for the transactions listed below. a) On January 1, Raleigh declared a 7% stock dividend on its common stock when the market value of the common stock was $19.75 per share. Stock dividends were distributed on January 31 to shareholders as of January 25. b) On Feb 15, Raeligh acquired 5,500 shares of common stock for $20 each C) on March 31, Raleigh reissued 1250 shares of treasury stock for $23 each d) On July 1, Taleigh corp reissued 2500 shares of treasury stock for $18 each e) On Oct. 1, Raleigh declared full year dividends for preferred stock plus 1.20 cash dividends for outstanding common shares. Shareholder dividends were paid on Oct. 15