31 & 32) -Wise Company had the following transactions. 1. Issued 7,000 shares of common stock with a stated value of $10 for $130,000. 2. Issued 2,000 shares of $100 par preferred stock at $108 for cash. Instructions Prepare the journal entries to record the above stock transactions. 130,000 Questin #31 31. a-Cash ....... ****.. ........................ Common Stock ....... . .. ... .... Paid-in Capital in Excess of Stated Value-Common Stock ............ 70,000 60,000 b-Cash.. ................... 130,000 Common Stock ........ 130,000 c-Cash ................................... .......................... 70,000 Paid-in Capital in Excess of Stated Value-Common Stock ........ 60,000 Common Stock.... 130,000 d-Common stock 130,000 Cash......... 130,000 (29 & 30) -Domaine Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During 2015, the company has the following stock transactions. Jan. 15 Issued 500,000 shares of stock at $7 per share. Sept. 5 Purchased 30,000 shares of common stock for the treasury at $9 per share. Instructions Journalize the transactions for Domaine Corporation. Question #29 Jan. 15 a-Cash..... . ... ......... 3,500,000