Required information. Problem 8-31 (Algo) Transaction analysis-various accounts LO 8-1, 8-2, 8-3,8-4, 8-6 [The following information applies to the questions displayed below.] Refer to the following transactions. a. Sold 5,800 previously unissued shares of $1 par value common stock for $16 per share. b. Issued 1,900 shares of previously unissued 5% cumulative preferred stock, $50 par value, in exchange for land and a building appraised at $107,000. c. Declared and paid the annual cash dividend on the preferred stock issued in transaction b. d. Purchased 300 shares of common stock for the treasury at a total cost of $3,300. e. Declared a cash dividend of $0.12 per share on the common stock outstanding. f. Sold 100 shares of the treasury stock purchased in transaction d at a price of $32 per share. g. Declared and issued a 1% stock dividend on the common stock issued when the market value per share of common: stock was $27. h. Split the common stock 3-for-1. Problem 8-31 (Algo) Part 1 - Journal entry