Required information Problem 10.6 A (Aigo) Record equity transactions and prepare the stockholders' equity section (LO10-2, 103,104,105,107 ) [The following information applies to the questions displayed below.] Golf Apparel has two classes of stock authorized: 5%,$10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 Issue 100,000 shares of comon stock for $58 per share. February 14 Issue 48,000 shares of preferred stock for $11 per share. May 8 Purchase 10,000 shares of its own common stock for $48 per share. May 31 Resell 5,000 shares of treasury stock for $53 per share. December 1 Declare a cash dividend on its common stock of $0.60 per share and a $24,000 ( 54 of par value) cash dividend on its preterred stock payable to all stockholders of record on December 15 . The dividend is payabte on Decenber 3e. (Hint: Dividends are not paid on treasury stock.) Deceaber 30 Pay the cash dividends dectared on December 1. roblem 10-6A (Algo) Part 1 equired: Record each of these transactions, (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first count field.) Journal entry worksheet Record the issuance of 100,000 shares of common stock for $58 per share. Note: Enter debits before credits. lournal entry worksheet 67 Record the issuance of 48,000 shares of preferred stock for $11 per share Note: Enter debits before credits. Record the purchase of 10,000 shares of its own common stock for $48 per share. Note: Enter debits before credits. Journal entry worksheet Record the resale of 5,000 shares of treasury stock for $53 per share. Note: Enter debits before credits. Record the declaration of a cash dividend on its common stock of $0.60 per share and a $24,000 ( 5% of par value) cash dividend on its preferred stock payable to all stockholders. The dividend is payable on December 30 . (Hint: Dividends are not paid on treasury stock.) Note: Enter debits before credits. Journal entry worksheet Record the entry on December 15, the date of record. Note: Enter debits before credits. urnal entry worksheet 12 ecord the payment of the cash dividends declared on December 1. Enter debits before credits