Bramble 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 $44,000$ shares for cash at $$53$ per share.

July $1$ Issued $63,000$ shares for cash at $$54$ per share.

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. List all debit entries before credit entries. If no entry is required, select $"$No

Entry" for the account titles and enter $0$ for the amounts.$)$

Date

Account Titles and Explanation

Debit

Credit

Feb. $1$

Cash

Paid$-$in Capital in Excess of Par$-$Preferred Stock

Preferred Stock

Paid$-$in Capital in Excess of Par$-$Preferred Stock

eTextbook and Media

eTextbook $1$

eTextbook $2$

Video

List of Accounts

Your answer is partially correct.

Post to the stockholders' equity accounts. $($Post entries in the order of journal entries posted in the previous part.$)$