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 $51,000$ additional shares of $$1$ par value common stock for $$48$ per share.

May $10$ Purchases $4,600$ shares of treasury stock for $$51$ per share.

June $1$ Declares a cash dividend of $$1\mathrm{.}30$ 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 $2,300$ shares of treasury stock purchased on May $10$ for $$56$ per share.

Required:

Record each of these transactions. $($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$Journal entry worksheet

$3$

$4$

$5$

for bit intron.