Item $1$: On January $1,2025,$ Entity L had $75,000$ shares of $$1$ par value common stock issued and outstanding. During the year, the following transactions occurred:

Mar. $1,$ Issued $60,000$ shares of common stock for

June $,1,$ Declared a cash dividend of $$2\mathrm{.}50$ per

share to stockholders of record on June $15$

June $30,$ Paid the $$2\mathrm{.}50$ cash dividend

Dec. $1,$ Purchased $900$ shares of common stock

for the treasury for $$18$ per share

Instructions: Prepare journal entries to record the above transactions. Show your calculations.