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Required information Problem 10-6A (Algo) Record equity transactions and prepare the stockholders' equity section (LO10-2, 103,104,105,107) [The following information applies to the questions displayed below.] Golf Apparel has two classes of stock authorized: 4%,$10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 Issue 120 , e0 shares of comnon stock for $65 per share. February 14 issue 55,000 shares of preferred stock for $13 per share. May 8 Purchase 12,000 shares of its own conmon stock for $55 per share. May 31 Resetl 6,000 shares of treasury stock for $60 per share. December 1 Declare a cash dividend on its common stock of $0.75 per share and a $22,000 (44 of par value) cash dividend on its preferred stock payable to all stockholders of record on Decenber 15 . The dividend is payable on December 30. (Hint: Dividends are not paid on treasury stock.) December 30 Pay the cash dividends declared on December 1. \begin{tabular}{|l|l|l|l|l|} \hline \multicolumn{1}{|c|}{ No } & \multicolumn{1}{|c|}{ Date } & \multicolumn{1}{|c|}{ General Journal } \\ \hline 1 & January 02, 2024 & Cash \\ \hline & & \multicolumn{1}{|c|}{ Common Stock } \\ \hline & Additional Paid-In Capital \\ \hline 2 & \begin{tabular}{c} February 14, \\ \hline 2024 \end{tabular} & Cash \\ \hline & & Preferred Stock \\ \hline & & Additional Paid-In Capital \\ \hline & & \\ \hline 3 & May 08,2024 & Treasury Stock \\ \hline & & Cash \\ \hline & & \\ \hline 4 & May 31,2024 & Cash \\ \hline & & Treasury Stock \\ \hline \end{tabular}