! Required information [The following information applies to the questions displayed below.] Little League 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 common stock for $63 per share. February 14 Issue 53,000 shares of preferred stock for $11 per share. May 8 May 31 Purchase 10,000 shares of its own common stock for $53 per share. Resell 5,000 shares of treasury stock for $58 per share. December 1 Declare a cash dividend on its common stock of $0.65 per share and a $26,500 (5% of par value) cash dividend on its preferred stock payable to all stockholders of record on December 15. The dividend is payable on December 30. (Hint: Dividends are not paid on treasury stock.) December 30 Pay the cash dividends declared on December 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.) View transaction list View journal entry worksheet No 1 Date January 02, 2024 Cash Common Stock Additional Paid-In Capital General Journal Debit Credit 6,300,000 100,000 6,200,000 2 February 14, Cash 583,000 2024 Preferred Stock 530,000 Additional Paid-In Capital 53,000 3 May 08, 2024 Treasury Stock Cash 530,000 530,000 4 May 31, 2024 Cash 290,000 Treasury Stock 265,000 Additional Paid-In Capital 25,000 December 17,255 9 7 01, 2024 December 15, 2024 December 30, 2024 Dividends Dividends Payable Dividends Payable Cash Dividends Payable Cash