Required information [The following information applies to the questions dispiayed below] Goif Apparel has two classes of stock authorized: 5%,$10 par preferred, and $1 par value common, The following transactions affect stockhoiders' equity during 2024, its first year of operations: January 2 tssue 100,000 shares of conmon stock for $58 per share. February 14 issue 48,060 shares of preferred stock for $11 per share. May 8 Purchase 10 , eag shares of its own comon stock for $48 per share. May 31 Aesell 5 , eea shares of treasury stock for $53 per share. Deceaber 1 Dectare a cash dividend on its comen stock of $0.60 per share and a $24,000 (5v of par value) cash dividend on its preterred stock payable to all stockholders of record on Decenber 15 . The dividend is payabte on becember 30 . (Mint: Dividends are not paid on treasury stock.) December 30 Pay the cash dividends declared on Decenber 1. Required: 1. Pecord each of these trensactions. Of no entry is required for a transaction/event, select "No Journal Entry Required" in the first necount field.) Journal entry worksheet \begin{tabular}{llllll} 3 & 4 & 5 & 6 & 7 \end{tabular} Recard the issuance of 100,000 shares of common stock for $56 per share. 1 Record the issuance of 100,000 shares of common stock for $58 per share. 2 Record the issuance of 48,000 shares of preferred stock for $11 per share. 3 Record the purchase of 10,000 shares of its own common stock for $48 per share. 4 Record the resale of 5,000 shares of treasury stock for $53 per share. 5 Record the declaration of a cash dividend on its common stock of $0.60 per share and a $24,000 ( 5% of par value) cash dividend on its preferred stock payable to all stockholders. The dividend is payable on December 30. Note : = journal entry has been entered 5 Record the declaration of a cash dividend on its common stock of $0.60 per share and a $24,000 ( 5% of par value) cash dividend on its preferred stock payable to all stockholders. The dividend is payable on December 30. (Hint: Dividends are not paid on treasury stock.) 6 Record the entry on December 15, the date of record. 7 Record the payment of the cash dividends declared on December 1