Kameamea Company was granted a charter on January 1 that authorized the following stock:
Common stock: $40 par value; 100,000 shares authorized
Preferred stock: 8 percent; $5 par value; 20,000 shares authorized
During the year, the following transactions occurred in the order given:
a. Issued 30,000 shares of the common stock for $40 per share and 5,000 shares of the preferred stock for $26 per share.
b. Issued 2,000 shares of preferred stock when the stock was selling for $32.
c. Repurchased 3,000 shares of the common stock issued earlier. Paid $38 per share.

Required:
Provide the journal entries required to record each of the transactions in (a) through (c).