Ch. 12 hw ebook Calculator Stock transaction for corporate expansion Pulsar Optics produces medical lasers for use in hosptals. The accounts and their balances appear in the ledger of Pulsar Optics on April 30 of the current year as follows: Pielerred 25 Stock, 550 par (500,000 shares authorised, 120,000 shares issued) $6,000,000 Paid In Capital in excess of Par-Preferred Stock 050 000 common stock, S100 par (900,000 shares authorized, 260,000 shares issued] 26,000,000 Paid In Capital in Excess of Par-Common Stock 2,080 000 Retained Earrings 52,000,000 At the annual stockholders' meeting on August 5, the board of directors presented a plan for modernizing and expanding plant sparations at a cost of approximately $17,075,000. The plan provided (a) that the corporation brow $5,700,000 (b) that $55,000 shares of the unissued preferred stock be Issued through an underwriter, and (c) that a bullding, valued at 3,400,000 and the land on which it is located, valued at 3,000,000 be acquired in accordance with preliminary negotiations by the issuance of 90,000. shares of common stock. The plan was approved by the stockholders and accomplished by the following transactions: Oct. 9. Borrowed 55,700,000 from St. Peter City Bank, giving 4% mortgage note. Ot 17 Issued 55,000 shares of preferred stock, receiving 55 per share in cash Oct. 20. Issued 50,000 shares of common stock in exchange for land and a building, according to the plan. Required: Journalize the entries to record the October transactions. If an amount box does not require an entry, leave it blank. Oct. 9 ) Oct. 17 III IIII Oct. 28