The balance sheet of the Aeronautical Corporation at December 31, 20x1, showed the following stockholders’ equity:

Make general journal entries for the following transactions occurring during 20x2:

a. Ten thousand shares of common stock were issued for cash at $35 per share.

b. The quarterly dividend on the preferred stock was declared but not paid.

c. Aeronautical acquired 8,000 shares of its own common stock at $32 per share.

d. A dividend of $1 per share on the common stock was declared but not paid.

e. Three thousand shares of the common stock held in the treasury were reissued at $35 per share.

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6 percent Preferred Stock (par value $100 per share; authorized 30,000 shares; issued and outstanding 15,000 shares) Common Stock (par value $10 per share; authorized 500,000 shares; issued and outstanding 200,000 shares) $1,500,000 2,000,000