3. Donald Duck Beachwear and Supplies sells clothing and toys for the beach. The following selected accounts in the ledger of Donald Duck at the beginning of the current year: Preferred 2% Stock, $100 par (100,000 shares authorized, 60,000 shares issued Paid-in Capital in Excess of Par--Preferred Stock Common Stock $10 par (3,000,000 shares authorized, 1,600,000 shares issued Paid-in Capital in Excess of Par--Common Stock Retained Earnings $6,000,000300,00016,000,0003,200,00055,000,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized below: a. Purchased 80,000 shares of treasury common stock for $8 per share. b. Sold 55,000 shares of treasury common stock for $11 per share. c. Issued 20,000 shares of preferred 2% stock for $105 per share. d. Issued 400,000 shares of common stock at $12 per share. e. Sold 18,000 shares of treasury common for $7.50 per share. f. Declared cash dividends of $2.00 per share on preferred stock and $0.10 (10 cents) per share on common stock. g. Paid the cash dividends Journalize the entries to record the transactions