23. Liz Company had the following equity accounts on January 1, 2022: Common Stock (1 par 1,500,000, Paid-in Capital in Excess of Par 1,500,000, and Retained Earnings 600,000. In 2022, the company had the following transactions. March 21 Issued 100,000 shares of 1 par-value common stock at 6 per share. April 28 Purchased 20,000 shares at 7 per share. July 7 Declared and paid cash dividends of 0.2 per share. Oct. 13 Sold 4,800 shares of treasury stock at 9 per share. Dec. 24 Sold 9,000 shares of treasury stock at 5 per share. Liz uses the cost method of accounting for treasury shares. In 2022, the company reported net income of 360,000 and total expense of 540,000. Question Group (15 Points) (1) Prepare the journal entries required by Liz on July 7, 2022. Short Answer (3 Points) Attachment Upload (2) Prepare the journal entries required by Liz on December 24, 2022. Short Answer (3 Points) Attachment Upload (3) Determine the balance of Paid-in Capital in Excess of Par on December 31, 2022. Short Answer (3 Points)