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The Clothing Cove has two classes of stock authorized: 9%,$10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024

image text in transcribedimage text in transcribed The Clothing Cove has two classes of stock authorized: 9%,$10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024 , its first year of operations: January 2 Issues 100,000 shares of common stock for $29 per share. February 6 Issues 2,400 shares of 9% preferred stock for $11 per share. September 10 Purchases 11,000 shares of its own common stock for $34 per share. December 15 Resells 5,500 shares of treasury stock at $39 per share. Required: 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.) The Clothing Cove has two classes of stock authorized: 9%,$10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024 , its first year of operations: January 2 Issues 100,000 shares of common stock for $29 per share. February 6 Issues 2,400 shares of 9% preferred stock for $11 per share. September 10 Purchases 11,000 shares of its own common stock for $34 per share. December 15 Resells 5,500 shares of treasury stock at $39 per share. Required: 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.)

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