Required information Problem 10-6A (Algo) Record equity transactions and prepare the stockholders' equity section (LO10-2, 10-3, 10-4, 10-5, 10-7) [The following information applies to the questions displayed below.] Tennis Apparel has two classes of stock authorized: 6%,$10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 Isaue 110,000 ahares of comnon atock for $67 per share. February 14 Insue 57,000 shares of preferred stock for $12 per thare. May 8 Purchase 11,000 thares of its own connon ntock for $57 per ohare. May 31 Rene11 5,500 aharen of treasury atock for $62 per athare. December 1 Deelare a cash dividend on its conron stock of $0,40 per share and a $34,200 (6) of par value) eash dividend on its preterred stock payable to al1 stockholdern of record on Deceaber 15, The dividend in payable on December 30. (int: Dividends are not paid on treasury stock.) December 30 pay the eash dividends declared on December 1. Problem 10-6A (Algo) Part 1 Required: 1. Record each of these transactions. (if no entry is required for a trargaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Journal entry worksheet Record the issuance of 110,000 shares of common stock for $67 per share. Note: Enter debits before credits. Journal entry worksheet Record the issuance of 57,000 shares of preferred stock for $12 per share. Note: Enter debits before creditsy Journal entry worksheet Record the purchase of 11,000 shares of its own common stock for $57 per share. Note: Enter debits before credits. Journal entry worksheet Record the resale of 5,500 shares of treasury stock for $62 per share. Note: Enter debits before credits. Journal entry worksheet Record the declaration of a cash dividend on its common stock of $0.40 per share and a $34,200 ( 6% of par value) cash dividend on its preferred stock payable to all stockholders. The dividend is payable on December 30 . (Hint: Dividends are not paid on treasury stock.) Note: Enter debits before credits. Journal entry worksheet Record the entry on December 15 , the date of record. Note: Enter debits before credits. Journal entry worksheet