COCK Transactions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the +++current year: Preferred 2% Stock, $100 par (60,000 shares authorized, 30,000 shares issued) Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $20 par (600,000 shares authorized, 250,000 shares issued) Paid-In Capital in Excess of Par-Common Stock $3,000,000 600,000 5,000,000 Retained Earnings During the year, the corporation completed umber of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 60,000 shares of common stock at $25, receiving cash. b. Issued 15,000 shares of preferred 2% stock at $114. c. Purchased 36,000 shares of treasury common for $22 per share. d. Sold 18,000 shares of treasury common for $25 per share. e. Sold 12,000 shares of treasury common for $20 per share. f. Declared cash dividends of $2.00 per share on preferred stock and $0.04 per share on common stock. g. Paid the cash dividends. Required: Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. Question Content Area a. Issued 60,000 shares of common stock at $25, receiving cash. 650,000 19,610,000 blank Question Content Area b. Issued 15,000 shares of preferred 2% stock at $114. blank - Select - -Select- - Select - Select- -Select- Select- -Select- Select-