3. Stockholders' equity transactions-journal entries A partial list of the ledger accounts of Chambers Company is shown below, followed by a list of transactions. Indicate the accounts that would be debited and credited in recording each transaction Common Stock, $2 Par Cash 21 Land 25 Additional Paid-In Capital Organization Costs Dividends Payable Preferred Stock, $100 Par 40 26 30 Donated Capital Retained Earnings Income Summary 10 20 Transactions Account(s) Debited Account(s) Credited Example: Issued preferred stock for cash At a price above par 20, 25 (a) The city of Boston donated land to Chambers Company to be used as ab (b) Declared a cash dividend on common stock (c) 10,000 shares of common stock are issued at a price above par (d) 1,000 shares of $2 par common stock are sold issued in exchange for attorney services relating to formation of corporation's value $3,750 (e) Income Summary account is closed at the end of a Period in which Chambers Company reported a net loss. (f) The dividend declared in b, above, is paid uilding site