2.5/5 1 Novak Corps stored for both preferred and common stock. The par value of the preferred is $50. During the first year operations, the company had the following events and transactions pertaining to its preferred stock Feb1 Issued 47.000 shares for cash at 552 per shart Issued 62.500 shares for cash at $56 per share Puly 1 Youri.com Youmalize the transactions. Record journal entries in the order presented in the problem. Credit cognition automatically Indented when amounted Do not inden manly In entry is equired, elect Monty for the accounts and enter for the amounts) Date Account Titles and Explanation Debit Credit 3444000 2500 Carretera 10.000 C Question 5 of 15 2.5/5 1 * You were incorrect Post to the stockholders' equity accounts. Use Taccounts. Post entries in the order of journal entries posted in the previous part) Preferred Stock 271 Paid-in Capital in Excess of Par Value-Preferred Stock Textbook and Media List of Accounts