Feb. 1 Issued 10,000 shares of common stock for $130,000.

Mar. 5 Issued 2,000 shares of preferred stock for $62 per share.

May 15 Purchased 7,000 shares of common stock for the treasury for $4 per share.

Jun. 1 Declared a cash dividend of $0.50 per share of common stock to stockholders of record on June 15 to be paid on June 25.

Dec. 15 Declared the annual cash dividend to preferred stockholders to be paid on Dec. 31.

Dec. 31 Close out the net income for the year which amounted to $245,000.

Prepare journal entries to record the above transactions. Make sure to include dates for all journal entries

Thank you for asking our help with your homework assignment. However, there are some rules we have for doing so.
Do not simply retype or paste a question from your book or study material

We won't do your homework questions for you. You were given the assignment for you to learn.

If you come up with your own answer or process and post it for us to critique that is acceptable. If you have some SPECIFIC questions that you couldn't find or didn't understand, we may help with that.
But this is your assignment, so show us you have at least attempted to complete it on your own.

Thank you.

Please note your other posts have been removed, please resubmit them with your answers so we can help.