Recently the following transactions have taken place.

a. NGS issues 1,500 preferred shares for $11 a share.

b. NGS repurchases 1,500 common shares for $10 a share.

c. On November 12, the board of directors declares a $0.10 cash dividend on each outstanding preferred share.

d. The dividend is paid December 20.

Record the issuance of 1,500 shares of preferred stock with no par value for a price of $11 per share.

Record the purchase of 1,500 previously issued common shares for a price of $10 per share.

Record the declaration of a $0.10 cash dividend on the shares of preferred stock outstanding.

Record the payment of the cash dividend to the preferred shareholders.

Incidentally each of the journal entries look like this

Required: 1. Prepare the journal entries needed for each of the transactions. (If no entry is required for a transactionlevent, select "No Journal Entry Required in the first account field.) view transaction listview general journal Journal Entry Worksheet 1330 2 3 4 with no par Record the issuance of 1,500 shares of preferred stock for a price of $11 per share. Transaction General Journal Debit Credit *Enter debits before credits done clear entry record entry