ABC Inc was incorporated 1/15/12 their corporate charter authorized the following capital stock preferred stock 7% par value $100 per share 100,000 shares. common stock $1 par values, 500,000 shares

1/19/12 issued $100,000 shares of common stock for $17, cash per share

1/31/12 issued $3,000 shares of preferred stock for $115 cash per share

11/1/12 repurchased $30,000 shares of common stock for $22 cash per share

12/1/12 declared and paid a total of dividend of $95,000

put in journal enrty

diffence between preferred and common stock