The stockholders' equity section of Palmer Corporation's balance sheet as of December 31, 2016 is as follows: Prepare journal entries for the following events which occurred during 2017: (if no entry is needed be sure to say so) 1) Jan 5 10,000 shares of authorized and unissued common stock were sold for $10 per share. 2) Jan 16 Declared a cash dividend of 15 cents per share, payable February 15 to stockholders of record on February 5 3) Feb 5 Date of Record 4) 20,000 shares of authorized and unissued common stock were exchanges for land. The market price of the stock was $15/share and the asking price for land was $310,000 5) Mar 1 Purchased 5,000 shares of treasury stock at s16 per share (cost method) 6) Mar 28 Reissued 1, 500 shares of treasury stock at $18/share 7) Apr 15 A 10% stock dividend was declared. The dividend is distributed on May 10 to stockholders of record on April 30. The market price of the stock currently $20/share 8) Jul 3 Reissued 3, 500 shares of treasury stock at $15/share 9) Aug 1 A cash dividend of 20 cents per share was declared, payable August 20 to stockholders of record on August 12