Sheffield Company has the following stockholders' equity accounts at December 31, 2017 Common Stock ($100 par value, authorized 8,600 shares) $523,500 Retained Earnings 293,100 Prepare entries in journal form to record the following transactions, which took place during 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (1) 270 shares of outstanding stock were purchased at $98 per share. (These are to be accounted for using the cost method.) (2) A $19 per share cash dividend was declared (3) The dividend declared in (2) above was paid (4) The treasury shares purchased in (1) above were resold at $102 per share (5) 520 shares of outstanding stock were purchased at $104 per share. (6) 360 of the shares purchased in (5) above were resold at $97 per share No. Account Titles and Explanation Debit Credit 1 Treasury Stock 26460 Cash 26460 . Retained Earnings 94335 Dividends Payable 94335 3. Dividends Payable 94335 Cash 94335