On January 1, 2020, Ayayal Corp. had 89,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Mar. 1 June 1 June 30 Dec. 1 Dec. 15 Issued 97,000 shares of common stock for $696,000. Declared a cash dividend of $2.00 per share to stockholders of record on June 15. Paid the $2.00 cash dividend Purchased 5,000 shares of common stock for the treasury for $20 per share. Declared a cash dividend on outstanding shares of $2.50 per share to stockholders of record on December 31 Net income for 2020 amounted to $950,000 Prepare journal entries to record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manus in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work