Ayaya. Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock. Feb. 1 Issued 54,500 shares for cash at $53 per share. July 1 Issued 71,500 shares for cash at $58 per share. (a) Your answer is partially correct. Journalize the transactions (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually . If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit Date Feb 17 Cash Preferred Stock Paid-in Capital in Excess of Par Value-Preferred Stock July 1 Cash Preferred Stock Pald-in Capitalin Excess of Par Value Preferred Stock