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Donnie Hilfiger has two classes of stock authorized: $$1$ par preferred and $$0\mathrm{.}01$ par value common. As of the beginning of $2024,300$ shares of preferred stock and $4,000$ shares of common stock have been issued. The following transactions affect stockholders$$ equity during $2024$:

March $1$ Issue $1,100$ shares of common stock for $$42$ per share.

May $15$ Purchase $400$ shares of treasury stock for $$35$ per share.

July $10$ Resell $200$ shares of treasury stock purchased on May $15$ for $$40$ per share.

October $15$ Issue $200$ shares of preferred stock for $$45$ per share.

December $1$ Declare a cash dividend on both common and preferred stock of $$0\mathrm{.}50$ per share to all stockholders of record on December $15.($Hint: Dividends are not paid on treasury stock.$)$

December $31$ Pay the cash dividends declared on December $1.$

Donnie Hilfiger has the following beginning balances in its stockholders$$ equity accounts on January $1,2024$: Preferred Stock, $$300$; Common Stock, $$40$; Additional Paid$-$in Capital, $$76,000$; and Retained Earnings, $$30,500.$ Net income for the year ended December $31,2024,$ is $$10,800.$

Required:

$1.$ Record each of these transactions. $($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$