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Refer to the following transactions. Sold 4,400 shares of $44 par value 7% preferred stock at par. Declared the annual dividend on the preferred stock.
Refer to the following transactions.
- Sold 4,400 shares of $44 par value 7% preferred stock at par.
- Declared the annual dividend on the preferred stock.
- Purchased 550 shares of preferred stock for the treasury at $53 per share.
- Issued 1,500 shares of $2 par value common stock in exchange for land valued at $116,000.
- Sold 262 shares of the treasury stock purchased in transaction c for $57 per share.
- Split the common stock 2-for-1.
Prepare the journal entries to record each of the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
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