The Santa Fe Corporation is authorized to issue 7.600 shares of 4 percent. $100 par-value preferred stock and 28,000 shares of no par-value common stock with a stated value of $40 per share on December 31, 2019,4,400 shares of preferred stock and 9,200 shares of common stock are issued and outstanding. The corporation's transactions affecting stockholders' equity during 2020 ore given below. Jan. 15 Repurchased 560 shares of outstanding preferred stock for $117,600 in cash. The stock is to be held as treasury stock. Mar.1 Declared a 2-for-1 stock spuit of common stock. Each shareholder is to receive one new share for each share held. The stated value of the stock is reduced to $20 per share. Date of record is March 15. Date of issue is April 1. Apr. 1 Issued the new shares declared on March 1. July 15 Declared a cash dividend of 4 percent on preferred stock and $0.80 per share on common stock to be paid on August 1 to holders of record on July 31. Aug. 1 Paid the cash dividend declared on July 15. Oct. 5 Accepted title to a tract of land with a fair market value of $55,000 from the city of Evergreen Park. The land is to be used as a building site for a new factory. Nov. 8 The board of directors passed a resolution to appropriate $98,000 for the construction of a new warehouse. Dec. 15 Declared a stock dividend payable January 15, 2021, to common stockholders of record on December 28, 2020, at the rate of one new share of common stock for each ten shares held. The estimated market value of the common stock is $22 per share. Record the transactions in a general journal. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Issued the new shares declared on March 1. Note: Enter debits before credits. Date General Journal Debit Credit Apr 01, 2020 1 N 3 4 on 6 7 8 Declared a cash dividend of 4 percent on preferred stock and $0.8 per share on common stock to be paid on August 1 to holders of record on July 31. Note: Enter debits before credits. General Journal Debit Credit Date Jul 15, 2020 Journal entry worksheet 1 2 3 4 5 6 7 8 Paid the cash dividend declared on July 15. Note: Enter debits before credits: Dato General Journal Dobit Credit Aug 01, 2020 Journal entry worksheet 1 2 3 4 5 6 7 8 > Accepted title to a tract of land with a fair market value of $55,000 from the city of Evergreen Park. The land is to be used as a building site for a new factory. Note: Enter debits before credits Goneral Journal Debit Credit Date Oct 05, 2020 Journal entry worksheet 1 2 3 4 5 6 8 The board of directors passed a resolution to appropriate $98,000 for the construction of a new warehouse. Note: Enter debits before credits. General Journal Debit Credit Date Nov 08, 2020 1 2 3 5 7 Record the declaring of a stock dividend payable January 15, 2021, to common stockholders of record on December 28, 2020, at the rate of one new share of common stock for each ten shares held. The estimated market value of the common stock is $22 per share. Note: Enter debits before credits General Journal Date Dec 15, 2020 Debit Credit