Required information Problem 10-6A (Algo) Record equity transactions and prepare the stockholders' equity section (LO10-2, 103,104,105,107) [The following information applies to the questions displayed below.] Tennis Apparel has two classes of stock authorized: 6%,$10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 Issue 118,600 shares of comton stock for $64 per share. February 14 Issue 54,000 shares of preferred stock for $12 per share. May 8 Purchase 11,000 shares of its own comnon stock for $54 per share. May 31 Resell 5,500 shares of treasury stock for $59 per share. December 1 Declare a cash dividend on its connon stock of $0.70 per share and a $32,460 (64 of par value) cash dividend on its preterred stock payabte to atl stockholders of record on Deceaber 15. The dividend is payable on December 30. (Hint: Dividends are not paid on treasury stock.) Decenber 30 Pay the cash dividends declared on December 1. Problem 10-6A (Algo) Part 1 Required: 1. Record each of these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) No Journal Entry Required Casn Common Stock Delivery Expense Dividends Dividends Payable Entertainment Expense