Hello! I need help with this question, I've done most of it, but I'm not sure if it's accurate. Part 1 is mostly complete, will need some help on part 2 for sure.

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National League Gear has two classes of stock authorized: 6%, $20 par preferred, and $5 par value common. The following transactions affect stockholders' equity during 2024, National League's first year of operations:

February 2 Issue 1.5 million shares of common stock for $20 per share. February 4 Issue 450,000 shares of preferred stock for $22 per share. June 15 Purchase 150,000 shares of its own common stock for $15 per share. August 15 Resell 112,500 shares of treasury stock for $30 per share. November 1 Declare a cash dividend on its common stock of $1.50 per share and a $540,000 (6% of par value) cash dividend on its preferred stock payable to all stockholders of record on November 15. (Hint: Dividends are not paid on treasury stock.) November 30 Pay the dividends declared on November 1.

Required:

1. Record each of these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

View transaction list View journal entry worksheet X No date General Journal Debit Credit 1 February 02, 2024 Cash 30,000,000 Common Stock 7,500,000 Additional Paid-In Capital 22,500,000 2 February 04, 2024 Cash 9,900,000 Preferred Stock 9,000,000 Additional Paid-In Capital 900,000 3 June 15, 2024 Treasury Stock 2,250,000 Cash 2,250,000 4 August 15, 2024 Cash 3,375,000 Additional Paid-In Capital 1,687,500 Treasury Stock 1,687,500 5 November 01, 2024 Dividends 2,733,750 Dividends Payable 2,733,750 6 November 30, 2024 Dividends Payable 2,733,750 Cash 2,733,750National League Gear Balance Sheet (Stockholders' Equity Section) December 31, 2024 Stockholders' Equity: Preferred Stock $ 9,000,000 Additional Paid-in Capital 900,000 Common Stock 7,500,000 Total Paid-in Capital 17,400,000 Retained Earnings Treasury Stock Total Stockholders' Equity $ 17,400,000