E11-10 Suliman Corporation is authorized to issue both preference and ordinary shares. Journalize preference share The par value of the preference shares is $50. During the first year of operations, the company had the following events and transactions pertaining to its preference shares. transactions and indicate Feb. 1 Issued 12,000 shares for cash at $53 per share. statement presentation. July 1 Issued 23,000 shares for cash at $57 per share. (LO4,7) Instructions (a) Journalize the transactions. (b) Post to the equity accounts