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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

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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 58,082 additional shares of $1 par value common stock for $55 per share. 10 Purchases 5.300 shares of treasury stock for $58 per share. June 1 Declares a cash dividend of $1.65 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 2,650 shares of treasury stock purchased on May 10 for $63 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 1 3 5 Record the issuance of 58,000 additional shares of si par value common stock for $55 per share. Note Enter debits before credits. A Date General Journal Debit Credit March 01.2021 Journal entry worksheet EEEE Record the purchase of 5,300 shares of treasury stock for $58 per share. Noteerdebts before credits. Debit Credit Date General Journal May 10, 2021 Journal entry worksheet

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