25. Parnell Company incurs the following transactions for the year ended December 31,

2017.

January 1 Issue 10,000 shares of no-par common stock at $20 per share.

March 31 Issue 20,000 shares of $1 par value common stock at $30 per share.

April 11 Issue 5,000 shares of $30 par value preferred stock.

June 30 Purchase back 3,000 shares of treasury stock at $23 per share.

September 12 Issue 1,500 shares of treasury stock at $25 per share

October 11 Issue 1,000 shares of treasury stock back to market at $20 per share.

December 10 Declare a $0.25 per share dividend on its outstanding shares.

December 31 Pay dividends to stockholders.

Prepare appropriate journal entries to record these transactions. (10 marks)