The following events occurred in 2021 for Rosemary Inc.

Nov. 1 Submitted articles of incorporation to the state government. Nov. 15 Application approved by state. The corporate charter authorizes 50,000, $10 12% preferred stock and 1,000,000 shares of $0.50 par value common stock. Nov. 18 Issue 20,000 shares of common stock at $0.50 per share. Nov. 25 Issue 30,000 shares of common stock at $2 per share. Nov. 30 Issue 10,000 shares of preferred stock at $11 per share. Dec. 1 Repurchased 15,000 shares of common stock when the market price was $1 per share. Dec. 5 Resold 4,000 shares of the reacquired stock when the market price was $1.50 per share. Dec. 25 Resold 5,000 shares of the reacquired stock when the market price was $0.25 per share.

Prepare the journal entries