11.2

Fagan Co. had these transactions during the current period. June 12 Issued 86,100 shares of $1 par value common stock for cash of $322,875. July 11 Issued 4,480 shares of $103 par value preferred stock for cash at $108 per share. Nov. 28 Purchased 1,990 shares of treasury stock for $7,110. Prepare the journal entries for the Fagan Co. transactions shown above. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually.)