Required information [The following information applies to the questions displayed below.] Little League Apparel has two classes of stock authorized: 5%,$10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024 , its first year of operations: January 2 Issue 100,000 shares of common stock for $63 per share. February 14 Issue 53,000 shares of preferred stock for $11 per share. May 8 Purchase 10,000 shares of its own common stock for $53 per share. May 31 Resell 5,000 shares of treasury stock for $58 per share. December 1 Declare a cash dividend on its common stock of $0.65 per share and a $26,500 (5\% 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 . equired: Record each of these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the firs ccount field.) Journal entry worksheet 7 Record the issuance of 100,000 shares of common stock for $63 per share. Note: Enter debits before credits. Journal entry worksheet Record the issuance of 53,000 shares of preferred stock for $11 per share. Note: Enter debits before credits. Journal entry worksheet Record the purchase of 10,000 shares of its own common stock for $53 per share. Note: Enter debits before credits. Journal entry worksheet Record the resale of 5,000 shares of treasury stock for $58 per share. Note: Enter debits before credits. Journal entry worksheet Record the declaration of a cash dividend on its common stock of $0.65 per share and a $26,500 (5\% of par value) cash dividend on its preferred stock payable to all stockholders. The dividend is payable on December 30. (Hint: Dividends are not paid on treasury stock.) Note: Enter debits before credits. Journal entry worksheet Record the entry on December 15, the date of record. Note: Enter debits before credits. Journal entry worksheet Record the payment of the cash dividends declared on December 1 . Note: Enter debits before credits