Northwest Clothing Supply has the following transactions during the year related to stockholders' equity: January 1 Issues 4,000 shares of no-par value common stock for $15 per share. March 15 Issues 800 shares of $20 par value preferred stock for $25 per share. December 1 Declares a cash dividend of $3 per share to all stockholders of record (both common and preferred) on December 15. December 15 Northwest Clothing Supply has fixed the Record Date for both common and preferred shares as December 15. December 31 Pays the cash dividend declared on December 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.)