Question: how do I do this? Buffalo Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. Preferred stock,

how do I do this?

how do I do this? Buffalo Company reported the following amounts in

the stockholders' equity section of its December 31, 2019, balance sheet. Preferred

Buffalo Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. Preferred stock, 10%, $100 par (10,000 shares authorized, 1,900 shares issued) $190,000 Common stock, $5 par (109,500 shares authorized, 21,900 shares issued) 109,500 Additional paid-in capital 117,000 Retained earnings 453,000 Total $869,500 During 2020, Buffalo took part in the following transactions concerning stockholders' equity. 1. 2 3. 4 Paid the annual 2019 $10 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019. Purchased 1,600 shares of its own outstanding common stock for $37 per share Buffalo uses the cost method Reissued 600 treasury shares for land valued at $27.400. Issued 480 shares of preferred stock at $105 per share. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for 547 per share. Issued the stock dividend. Declared the annual 2020 $10 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2021 5. 6. 7 Prepare journal entries to record the transactions described above. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the accountles and enter for the amounts:) No. Account Titles and Explanation Debit Credit 1 Dividends Payable-Preferred Dividends Payable-Common cash 2 Treasury Stock Cash 3 Land Treasury Stock DODONTO Pald-In Capital from Treasury Stock V 4 Cash Preferred Stock Pald-In Capleal In Excess of Par-Preferred Stock 5. Retained Earnings Common Stock Dividend Deributable Paid-in Capizzi In Exces of Par-Common Stock V 6. Common Stock Dividend Darlbutabie Common Stock 7 Retained Earning Didends Payable-Common Dividends Parable-Preferred

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