The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year:

Preferred 2% Stock, $100 par (100,000 shares authorized, 80,000 shares issued) . . . . . . $ 8,000,000

Paid-In Capital in Excess of Par—Preferred Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 440,000

Common Stock, $5 par (5,000,000 shares authorized, 4,000,000 shares issued) . . . . . . . 20,000,000

Paid-In Capital in Excess of Par—Common Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,280,000

Retained Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 115,400,000

During the year, the corporation completed a number of transactions affecting the stockholders’ equity. They are summarized as follows:

a. Issued 200,000 shares of common stock at $12, receiving cash.

b. Issued 8,000 shares of preferred 2% stock at $115.

c. Purchased 175,000 shares of treasury common for $10 per share.

d. Sold 110,000 shares of treasury common for $14 per share.

e. Sold 30,000 shares of treasury common for $8 per share.

f. Declared cash dividends of $1.25 per share on preferred stock and $0.08 per share on common stock.

g. Paid the cash dividends.

Instructions

Journalize the entries to record the transactions. Identify each entry by letter.