1. Tran Corporation is authorized to issue both preferred and common stock. The par value of the preferred is $48. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock.

Feb.	1		Issued 21,500 shares for cash at $57 per share.
July	1		Issued 11,500 shares for cash at $61 per share.

Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Post to the stockholders equity accounts.

Exercise 11-10 Tran Corporation is authorized to issue both preferred and cunmon stock. The par value of the preferred is $48. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock Feb. 1 Issued 21,500 shares for cash at 57 per share. luly 1 ssued 11,50D shares for cash at $61 per share. Your answer ls correct. ournalize the transactins. (Record journal entries in the order presented in the problem. Credit account tities are automatically indented when amount is entered. Do not indent nanually. If no entry is required, select "No Entry" for the account titles and enter D for the amounts. Account itles and Explanation Dchit Credit Feb. 1 Cash 1225500 Proferrad Stock Paid in Capital in Exces 193500 Cash 701500 Preferred Stock 552000 Pald-in Capltal In Exces 149500