Record common stock, preferred stock, and dividend transactions $($ LO$10-2,10-3,10-5)$

E$10-6$ Italian Stallion has the following transactions during the year related to stockholders' equity.

February $1$ Issues $6,000$ shares of no$-$par common stock for $$16$ per share.

May $15$ Issues $700$ shares of $$10$ par value, $12\mathrm{.}5\%$ preferred stock for $$13$ per share.

October $1$ Declares a cash dividend of $$1\mathrm{.}25$ per share to all stockholders of record $($both common and preferred$)$ on October $15.$

October $15$ Date of record.

October $31$ Pays the cash dividend declared on October $1.$

Required:

Record each of these transactions.