Exercise $10-12($Algo$)$ Record common stock, treasury stock, and cash dividends $($LO$10-2,10-4,10-5)$

Bay Meadows Corporation designs and produces a line of golf equipment and golf apparel. Bay Meadows has $100,000$ shares of

common stock outstanding as of the beginning of $2024.$ Bay Meadows has the following transactlons affecting stockholders' equity in

March $1$ Issues $54,000$ additional shares of $$1$ par value common stock for $$51$ per share.

May $10$ Purchases $4,900$ shares of treasury stock for $$54$ per share.

June $1$ Declares a cash dividend of $$1\mathrm{.}45$ per share to all stockholders of record on June $15.($Hint: Dividends are not paid on

treasury stock.$)$

July $1$ Pays the cash dividend declared on June $1.$

October $21$ Resells $2,450$ shares of treasury stock purchased on May $10$ for $$59$ per share.

Required:

Record each of these transactions. $($If no entry Is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" In

the first account field.$)$

PLEASE COMPLETE THE ONES MARKED IN RED AND EXPLAIN THE ANSWER THANK YOU