Required information [The following information applies to the questions displayed below] Tennis Apparel has two classes of stock authorized: 6%,$10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 Issue 110,000 share of connon stock for $61 per share. February 14 Issue 51,000 abares of preferred stock for $12 per share. Nay 8 purchase 11,000 sharen of 1 ts own common stock for $51 per share. May 31 Resel1 5,500 shares of treasury stock for $56 per share. December 1 Declare a cash dividend on itil comon stock of $0.55 per whare and a $30,600 (61 of par value) cash dividend on its preferred itock payable to all stockholders of record on Decenter 15 . The dividend is payable on December 30 . (Hintz Dividends are not pold on treasury atock.) December 30 pay the cath dividends declered 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.)