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Required information [The following information applies to the questions displayed below.] Tennis Apparel has two...

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Accounting

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Required information [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: Jasuary 2 lasue 110,000 shares of cotmon stock for $67 per share. robruary 14 Issue 57,000 whares of preferred steek for $12 per whare. May I Parekase 11,000 ahares of its own coomon stock for $57 por ohare. May 31 Resel1 5,500 shares of treasury atoek for $62 per ahare. December 1 Declare a cash dividend on its conmon stock of $0.40 per whare and a $34,200 (61 of par value) canh dividend on its preferred stoek payable to all stoekholdern of record on Decesbor 15 . The dividend is payable on Decenber 30. (Hinti Dividend are pot paid on treasury atock+) December 30 Pay the cash dividends declared on becenber 1 . Required: Record each of these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

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