Ch 11 WileyPlus Homework Question 5 of 11 View Policies Show Attempt History Current Attempt in Progress < 1.11/2 III Pronghorn 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 49,500 shares for cash at $53 per share. July 1 Issued 64,500 shares for cash at $58 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 Feb. 1 Cash Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock July 1 Cash Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock eTextbook and Media Debit 2332000 3741000 Credit 2475000 132000 3225000 516000 SUPPORT