Tree Trimmer Airlines Inc. had the following selected account balances

as of January $1,2023$:

Preferred Stock, $3\%,$ $$100$ par

$(100,000$ shrs$.$ authorized; $????$ shrs$.$ issued and outstanding$).$ $$600,000$

Paid in Capital in Excess of Par $-$ Preferred Stock $$60,000$

Common Stock, $$??$ par

$(800,000$ shares. authorized, $500,000$ issued and outstanding$)$ $$1,000,000$

Paid in Capital in excess of Par $-$ Common Stock $$300,000$

Retained Earnings $$900,000$

During $2023$ the following occurred:

Debit Credit

$15-$Jan Declared a cash dividend on preferred stock. $15-$Jan

$14-$Feb Payment date for the preferred dividend. $14-$Feb

$28-$Feb Issued $2,500$ shares of preferred stock in exchange for a building. $28-$Feb

Details regarding the building are as follows:

Original Accum Book Fair Mkt$.$

cost Deprec. Value Value

Land $25,00025,00075,000$

Building $150,00030,000120,000180,000$

$17-$Mar Declared declared a $4\%$ common stock dividend when the shares $17-$Mar

were trading at $ $30.$

$1-$Jul Distribution date for common stock pursuant to stock dividend. $1-$Jul

$($Shares trading at $$27)$

$1-$Sep Reacquired $5,000$ common shares for $$155,000$ and placed them $1-$Sep

$30-$Sep Reissued $2,000$ common shares held in treasury for $ $68,000.30-$Sep

$31-$Oct Reissued $1,000$ common shares held in treasury for $ $27,500$

$31-$Oct

$7-$Nov Reissued $2,000$ common shares held in treasury for $$58,000$

$7-$Nov

$12-$Nov Declared a a $60\%$ common stock dividend.

$($shares trading at $$29\mathrm{.}00)$

$12-$Nov

$24-$Dec Distribution date for common stock pursuant to Nov. $12$th stock

stock dividend $($shares trading at $$29\mathrm{.}50).$

$24-$Dec

Required: record the above transactions in general journal form