Santiago Co. had these transactions during the current period: June 12 Issued 60,000 shares of ($ 1)

Question:

Santiago Co. had these transactions during the current period:

June 12 Issued 60,000 shares of $\$ 1$ par value common stock for cash of $\$ 375,000$.
July 11 Issued 1,000 shares of $\$ 100$ par value preferred stock for cash at $\$ 105$ per share.
Nov. 28 Purchased 2,000 shares of treasury stock for $\$ 80,000$.
\section*{Instructions}
Prepare the journal entries for the transactions.

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