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

a$.$ Purchased $$350,900$ of common stock now held in treasury.

b$.$ Declared cash dividends in the amount of $$260,450.$

c$.$ Paid the dividends in $($b$).$

d$.$ Issued $109,000$ new shares of $$0\mathrm{.}10$ par value common shares for $$2$ per share.

e$.$ Closed the Dividends account.

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.$)$

Journal entry worksheet

Journal entry worksheet

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Record the purchase of $$350,900$ common stock now held in treasury.

Record the cash dividends declared in the amount of $$260,450.$

Note: Enter debits before credits.

Note: Enter debits before credits.

Journal entry worksheet

Journal entry worksheet

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Record the payment of the dividend.

Note: Enter debits before credits.

Journal entry worksheet

Record the entry to close Dividends account.

Note: Enter debits before credits.

Record the issue of $109,000$ new shares of $$0\mathrm{.}10$ par value, for $$2$ per share.

Note: Enter debits before credits.