Required information The following information applies to the questions displayed below.) Major League Apparel has two classes of stock authorized: 6%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations January 2 Tenue 110,000 shares of common stock for $61 per share. February 14 Tage 51,000 shares of preferred stock for 512 per share. May Purchase 11,000 shares of its own conmon stock for $51 per share. May 31 Rouell 5,500 shares of treasury stock for $56 per share. December Declare a canh dividend on its common stock of 50.55 per share and a $30.600 (61 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: 1. Record each of these transactions. (if no entry is required for a particular transaction, select "No Journal Entry Required" in the first account field.) 2 View transaction llet Journal entry worksheet 1 2 5 6 7 Record the issuance of 110,000 shares of common stock for $61 per share. Note: Enter debits before credits Date January 02, 2021 General Journal Debit Credit Che 5 Required: 1. Record each of these transactions. (If no entry is required for a particular transaction, select "No Journal Entry Required" in the first account field.) of 2 View transaction ist Journal entry worksheet