Required information [The following information applies to the questions displayed below] Sun Corporation recelved a charter that authorized the issuance of 84,000 shares of $5 par common stock and 22,000 shares of $100 par, 4 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation. Year 1 January 5 Sold 12,600 shares of the $5 par common stock for $7 per share. January 12 Sold 2,200 shares of the 4 percent preferred stock for $110 per share. April 5 Sold 16,800 shares of the $5 par common stock for $9 per share. December 31 During the year, earned $314,000 in cash revenue and paid $241,400 for cash operating expenses. December 31 Declared the cash dividend on the outstanding shares of preferred stock for Year 1 . The dividend witl be paid on February 15 to stockholders of record on January 10 , Year 2. Decenber 31 Closed the revenue, expense, and dividend accounts to the retained earnings account. Year 2 February 15 Paid the cash dividend declared on December 31, Year 1, March 3 Sold 3,30e shares of the $106 par preferred stock for $120 per share. May 5 Purchased 400 shares of the Common stock as treasury stock at $10 per share. December 31 During the year, earned $247,000 in cash revenues and poid $172,500 for cash operating expenses. December 31 Declared the annual dividend on the preterred stock and a $0.50 per share dividend on the common stock. December 31 closed revenue, expense, and dividend accounts to the retained earnings account. Required a. Prepare journal entries for these transactions for Year 1 and Year 2 and post them to T-accounts. Complete this question by entering your answers in the tabs below. Prepare journal entries for these transactions for Year 1 and Year 2. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet 4567818 Sold 12,600 shares of the $5 par common stock for $7 per share. Record the transaction. Note: Enter debits before credits. General Journal T Accounts Year 2