Petra Corporation's, widely held, public company. Information about its shareholders equity is as follows: Petra Co. Shareholders' equity December 31, 2020 Preferred shares, no par value, 8% cumulative, 1,000 issued and outstanding $100,000 Common shares, 100,000 authorized, 12,000 issued and outstanding $180,000 Contributed Surplus-common shares $6,000 Contributed Surplus-Preferred shares $50,000 Retained earnings $40,000 Instructions: 1- Prepare all journal entries for the following transaction (assuming all occurred during 2021): A) Jan 7, Issued 3,500 common shares at $19 per share for cash B) Feb 12, Issued 1,000 preferred shares 8% cumulative at $150 each C) May 8, bought and cancelled 1000 common shares at $25 per share D) June 6 Issued 1,500 common shares at $22 per share for cash E) June 20, bought and cancelled 2,000 common share at $40 per share 2- After the above transactions, in July 1, 2021 Petra co. declare $50,000 dividend for the date of record Aug 24, 2021 to be paid on Oct 10, 2021. Prepare the Journal entry(s) to record this dividend. 2- After the above transactions, in July 1, 2021 Petra co. declare $50,000 dividend for the date of record Aug 24, 2021 to be paid on Oct 10, 2021. Prepare the Journal entry(s) to record this dividend