Concord Corporation 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. July (a) 1 Issued 52,500 shares for cash at $53 per share. 1 Issued 70,000 shares for cash at $59 per share. 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 O for the amounts.) Date Account Titles and Explanation Debit Credit

Concord Corporation is authorized to issue both preferred and common stock. The par value of the preferred is \$SO During the first year of operations, the company had the following events and transactions pertaining to its preferred stock. Feb. 1 Issued 52.500 shares for cashat $3 per share July 1 issued 70,000 shares for cash at $59 per share. (a) Journalize the transactions. (Recond journal entries in the order presented in the problem, Credit occount tidies ore outomatically indented when omount is entered. Do not indent manualik List all debit entries before credit entries if no entry is required, select "No Entry for the occount bities and enter ofor the amounts) Journalize the transactions. (Record foumal entries in the onder presented in the probiem. Credit occount tieles are outomatically Indented when amount is entered. Do not indent marualh, List olf debit enteries before credit entries. If no entry is nequired, select "No Entry for the account titles and enter ofor the anounts)