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Sunshine Corp. was organized on Jan. 1 with authorization of 20,000 shares of $5 preferred stock, $100 par, and 200,000 shares of $25 par common stock. Indicate the account that should be recorded in the Description column of the Journal item (1) as the debit account for the $104,000 assuming that Sunshine Corp. received cash for the issuance of 800 shares of preferred stock at $130 per share. JOURNAL DATE DESCRIPTION PREF DEBIT CREDIT Mar 1 (1) $104,000 (2) 9 (2) (2) Preferred Stock Cash Paid-In Capital in Excess Par - Preferred Stock Treasury Stock Sunshine Corp. was organized on Jan. 1 with authorization of 20,000 shares of $5 preferred stock, $100 par, and 200,000 shares of $25 par common stock. Indicate the accounts that should be recorded in the Description column of the Journal item (2) as the credit accounts and for what amounts assuming that Sunshine Corp. received cash for the issuance of 800 shares of preferred stock at $130 per share. JOURNAL DATE DESCRIPTION PREF CREDIT DEBIT $104,000 Mar 1 (1) (2) (O (?) (2) O Cash credited for $104,000 and Preferred Stock credited $8,000 O Preferred Stock credited for $80,000 and Paid-In Capital in Excess Par Preferred Stock credited for $24,000 O Treasury Stock credited for $104,000 and Paid-In Capital from Sale of Treasury Stock credited for $104,000 Cash credited for $80,000 and Paid-In Capital in Excess Par - Preferred Stock credited for $24,000 Assume a company has authorization of 20,000 shares of $25 par common stock authorized and issued. Indicate the account that should be recorded in the Description column of the Journal item (1) as the debit account for the $45,000 assuming that the company reacquired 1,000 shares of their common stock at $45 per share. DATE DESCRIPTION PREF DEBIT CREDIT (1) (2) 45,000 O Cash 45,000 Common Stock Paid-In Capital from Sale of Treasury Stock Treasury Stock Assume a company has authorization of 20,000 shares of $25 par common stock authorized and issued. Indicate the account that should be recorded in the Description column of the Journal item (2) as the credit account for the $45,000 assuming that the company reacquired 1,000 shares of their common stock at $45 per share. DATE DESCRIPTION PREF DEBIT CREDIT 45,000 (1) (2) 45,000 Cash O Common Stock Paid-In Capital from Sale of Treasury Stock Treasury Stock