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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

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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 shares of common stock for 567 per share. February 14 issue 57,800 shares of preferred stock for $12 per share. May 8 Purchase 11 , e0e shares of its own common stock for $57 per share. May 31 Resell 5,500 shares of treasury stock for $62 per share. December 1 Declare a cash dividend on its conmon stock of 50,40 per share and a 534,200 (6k of par value) cash dividend on its preferred stock payable to all stockholders of record on Decenber 15. The dividend is payable on December 30. (Hint: Dividends are not paid on treasury stock. 0ecember 30 Pay the cash dividends dectared 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.)

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