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The annual report for Malibu Beachwear reported the following transactions affecting stockholders equity:

1. Purchased $350,600 of common stock now held in treasury.
2. Declared cash dividends in the amount of $260,300.
3. Paid the dividends in (b).
4. Issued 106,000 new shares of $0.10 par value common shares for $2 per share.
5. Closed the Dividends account.

Required information [The following information applies to the questions displayed below.] The annual report for Malibu Beachwear reported the following transactions affecting stockholders' equity a. Purchased $350,600 of common stock now held in treasury. b. Declared cash dividends in the amount of $260,300. c. Paid the dividends in (b). d. Issued 106,000 new shares of $0.10 par value common shares for $2 per share. e Closed the Dividends account 2. Prepare journal entries to record each of these events. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the purchase of $350,600 common stock now held in treasury. Note: Enter debits before credits. Event General Journal Debit Credit a Record entry Clear entry View general journal Required information [The following information applies to the questions displayed below.] The annual report for Malibu Beachwear reported the following transactions affecting stockholders' equity a. Purchased $350,600 of common stock now held in treasury. b. Declared cash dividends in the amount of $260,300. c. Paid the dividends in (b). d. Issued 106,000 new shares of $0.10 par value common shares for $2 per share. e Closed the Dividends account 2. Prepare journal entries to record each of these events. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the purchase of $350,600 common stock now held in treasury. Note: Enter debits before credits. Event General Journal Debit Credit a Record entry Clear entry View general journal