Blue Spruce Corp. recently hired a new accountant with extensive experience in accounting for partnerships. Because of the pressure of the new job, the accountant was unable to review what he had learned earlier about corporation accounting. During the first month, he made the following entries for the corporations capital stock.

Exercise K11-5 unable to Blue Spruce Corp. recently hired a new accountant with extensive experience in accounting for partnerships. Because of the pressure of the new job, the accountant was unable to review what he had learned earlier about corporation accounting. During the first month he made the following entries for the corporation's capital stock. ehad le pressure the carporation it with extensive e May 2 Cash 104,000 Capital Stock 04,000 (Issued 8,000 shares of $10 par value common stock at $13 per share) 10 Cash 784,000 Capital Stock (lssued 14,000 shares of $16 par value preferred stock at $6 per share) 15 Capital Stock Cash 1,250 (Purchased 750 shares of common stock for the treasury at $15 per share) On the basis of the explanation for each entry, prepare the entries that should have been made for the capital stock transactions. (Record journal entries in the order presented in the problen. Credit account tities are automatically indented when amount is entered. Do not indent manually. If no entry rs required, select "No Entry" far the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit