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During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 50,000 shares of common

image text in transcribedimage text in transcribed During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 50,000 shares of common stock at $31, receiving cash. b. Issued 8,000 shares of preferred 2% stock at $68. c. Purchased 30,000 shares of treasury common for $30 per share. d. Sold 15,000 shares of treasury common for $33 per share. e. Sold 10,000 shares of treasury common for $28 per share. f. Declared cash dividends of $1.00 per share on preferred stock and $0.10 per share on common stock. g. Paid the cash dividends. Journalize the entries to record the transactions. If an amount box does not require an entry, leave it blank. a. Issued 50,000 shares of common stock at $31, receiving cash. b. Issued 8,000 shares of preferred 2% stock at $68. c. Purchased 30,000 shares of treasury common for $30 per share. d. Sold 15,000 shares of treasury common for $33 per share. e. Sold 10,000 shares of treasury common for $28 per share. f. Declared cash dividends of $1.00 per share on preferred stock and $0.10 per share on common stock. g. Paid the cash dividends

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