! 2 Required information E11-9 Recording and Reporting Stockholders' Equity Transactions, including Closing Entry [LO 11-2, LO 11. 3] The following information applies to the questions displayed below) The annual report for Malibu Beachwear reported the following transactions affecting stockholders' equity DO nt a. Purchased $352,000 of common stock now held in treasury b. Declared cash dividends in the amount of $261000 c. Paid the dividends in (b) d. Issued 120,000 new shares of $0.10 par value common shares for $2 per share e Closed the Dividends account. ences E11-9 Part 2 2. Prepare journal entries to record each of these events. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Part 1 of 2 " 2 3 4 5 Record the purchase of $352,000 common stock now held in treasury. Note: Enter debits before credits. Credit Event General Journal Debit 352,000 a Treasury Stock Cash 352,000 Record entry Clear entry View general journal