Exercise 10-6 (Static) Record common stock, preferred stock, and dividend transactions (LO10-2, 10-3, 105) Italian Stallion has the following transactions during the year related to stockholders' equity. February 1 Issues 6,000 shares of no-par conton stock for $16 per share. May 15 Issues 760 shares of $10 par value, 12.5% preferred stock for $13 per share. october 1 Declares a cash dividend of $1.25 per share to all stockholders of record (both connon and preferred) an Octoben 15 . October is Date of record. October 31 Pays the cash dividend declared on October 1. 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.) Journal entry worksheet Record the issuance of 6,000 shares of no-par common stock for $16 per share. Note: Enter debits before credits. Journal entry worksheet Record the issuance of 700 shares of $10 par value, preferred stock for $13 per share. Note: Enter debits before credits. Journal entry worksheet Record the declaration of a cash dividend of 51.25 per share to all stockholders of record (both common and preferred) on October 15 . Nate- Enter dehis before credits Journal entry worksheet Record the entry on the date of record. Note: Enter debits before credits. Journal entry worksheet Record payment of the cash dividend declared on October 1. Note: Enter debits before credits