Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100,000 shares of common stock outstanding as of the beginning of 2021. Power Drive has the following transactions affecting stockholders' equity in 2021.

March		1		Issues 45,000 additional shares of $1 par value common stock for $42 per share.
May		10		Purchases 4,000 shares of treasury stock for $45 per share.
June		1		Declares a cash dividend of $1.00 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.)
July		1		Pays the cash dividend declared on June 1.
October		21		Resells 2,000 shares of treasury stock purchased on May 10 for $50 per share.

Required: Record each of these transactions.

1. Record the issuance of 45,000 additional shares of $1 par value common stock for $42 per share.

2. Record the purchase of 4,000 shares of treasury stock for $45 per share.

3. Record the declaration of a cash dividend of $1.00 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.)

4. Record payment of the cash dividend declared on June 1.

5. Record the resale of 2,000 shares of treasury stock purchased on May 10 for $50 per share.