ZT Corporation's balance sheet as of December $31,2024$ shows the following:

Prepare journal entries for the following transactions that occurred in $2025.$ Show

calculations.

Feb $1$ Purchased $20,000$ shares to be held as treasury stock, $$50$ per share.

Mar $15$ Reissued $5,000$ shares at $$47$ per share.

June $2$ Reissued $8,000$ shares at $$55$ per share.

Aug $9$ Reissued $4,000$ shares at $$43$ per share.

Oct $21$ Retired the remaining treasury shares.

JM Corporation's balance sheet as of December $31,2024$ shows the following:

Prepare journal entries for the following transactions that occurred in $2025.$ Show

calculations.

Jan $15$ Issued $100,000$ common shares at $$7$ per share.

May $1$ Declared a $10\%$ stock dividend. The fair value per share on May $1$ was $$9$ per share.

June $1$ Issued the stock dividend declared on May $1.$

Oct $15$ A $2$ for $1$ common stock split is declared and issued.

Dec $31$ Declared a $$0\mathrm{.}50$ per share common dividend, payable Jan $15,2026.$

Dec $31$ Declared a preferred dividend, payable Jan $15,2026.$ No dividend was paid for $2024.$