National League Gear has two classes of stock authorized: 6%, $20 par preferred, and $5 par value common. The following transactions affect stockholders’ equity during 2021, National League’s first year of operations:   February 2 Issue 1.3 million shares of common stock for $28 per share.  February 4 Issue 530,000 shares of preferred stock for $22 per share. June 15 Purchase 130,000 shares of its own common stock for $23 per share. August 15 Resell 97,500 shares of treasury stock for $38 per share.  November 1 Declare a cash dividend on its common stock of $1.30 per share and a $636,000 (6% of par value) cash dividend on its preferred stock payable to all stockholders of record on November 15. (Hint: Dividends are not paid on treasury stock.)  November 30 Pay the dividends declared on November 1.   Required: 1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Record the issuance of 1.30 million shares of common stock for $28 per share.     Date General Journal Debit Credit February 02, 2021                                               Record the issuance of 530,000 shares of preferred stock for $22 per share.     Date General Journal Debit Credit February 04, 2021                                               Record the purchase of 130,000 shares of its own common stock for $23 per share.     Date General Journal Debit Credit June 15, 2021                                               Record the resell 97,500 shares of treasury stock for $38 per share.     Date General Journal Debit Credit August 15, 2021                                               Record the declaration of a cash dividend on its common stock of $1.30 per share and a $636,000 (6% of par value) cash dividend on its preferred stock payable to all stockholders of record on November 15. (Hint: Dividends are not paid on treasury stock.)     Date General Journal Debit Credit November 01, 2021                                                   Date General Journal Debit Credit November 01, 2021                                                   Date General Journal Debit Credit November 01, 2021                                               Record the dividends declared on November 1.     Date General Journal Debit Credit November 30, 2021

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