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Tennis Apparel has two classes of stock authorized: $4\%,$$$10$ par preferred, and $$1$ par value common. The following transactions affect stockholders' equity during $2024,$ its first year of operations:

January $2$ Issue $120,000$ shares of common stock for $$53$ per share.

February $14$ Issue $43,000$ shares of preferred stock for $$13$ per share.

May $8$ Purchase $12,000$ shares of its own common stock for $$43$ per share.

May $31$ Resell $6,000$ shares of treasury stock for $$48$ per share.

December $1$ Declare a cash dividend on its common stock of $$0\mathrm{.}40$ per share and a $$17,200(4\%$ 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:

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