Required information [The following information applies to the questions displayed below.) National League Gear has two classes of stock authorized: 4%, $20 par preferred, and $5 par value common. The following transactions affect stockholders' equity during 2021, National League's first year of operations: February 2 Tue 1.1 million shares of common stock for $19 per share. February 4 Tosue 440,000 shares of preferred stock for $23 per whare. June 15 Purchase 110,000 shares of its own common stock for $14 per share. August 15 Resell 82,500 shares of treasury stock for $29 per share. November 1 Declare a cash dividend on its common stock of $1.10 per share and a $352,000 (48 of par value) canh dividend on its preferred stock payable to all stockholders of record on November 15. (Hint Dividends are not paid on treasury stock.) November 30 Pay the dividends declared on November 1. Required: 1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" In the first account field.) Required information Journal entry worksheet > 1 2 3 4 5 6 Record the declaration of a cash dividend on its common stock of $1.10 per share and a $352,000 (4% of par value) cash dividend on its preferred stock payable to all stockholders of record on November 15. (Hint: Dividends are not paid on treasury stock.) Note: Enter debits before credits. General Journal Dobit Credit Date November 01, 2021 Record entry Clear entry View general Journal Required information Journal entry worksheet