Required Information The foltowing 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 2024, its first year of operations: January 2 Tseue 110,000 sharen of conmon n tock for $20 per ibare: february 14 tasue 60,000 shares of preferred stock tor $12 per share. cath dividend on its proterred stock paysble to all atockholders of recerd en Deceebar is. The dividend is payable on pecenber jo. (ilinti osvidendi are not paid on treatury atock.) Required: Record each of these transoctions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first ecount fitid.) Journal entry worksheet 2 3 4 5 6 7 Record the issuance of 110,000 shares of common stock for $70 per share. Note: Enter debits before credits. Journal entry worksheet Record the issuance of 60,000 shares of preferred stock for $12 per share. Note: Enter debits before credits. Journal entry worksheet 1 4 5 7 Record the purchase of 11,000 shares of its own common stock for $60 per share. Note: Enter debits before credits. Journal entry worksheet Record the resale of 5,500 shares of treasury stock for $65 per share. Note: Enter debits before credits. Journal entry worksheet Record the deciaration of a cash dividend on its common stock of $0.25 per share and a $36,000 ( 6% 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