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Selected Stock Transactions

Preferred $2\%$ Stock, $$75$ par $(50,000$ shares authorized, $25,000$ shares issued$)$

Paid$-$In Capital in Excess of Par$-$Preferred Stock

Common Stock, $$25$ par $(600,000$ shares authorized, $230,000$ shares issued$)$

Paid$-$In Capital in Excess of Par$-$Common Stock

$$1,875,000$

$225,000$

$5,750,000$

$750,000$

$18,232,000$

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

a$.$ Purchased $36,000$ shares of treasury common for $$26$ per share.

b$.$ Sold $18,000$ shares of treasury common for $$29$ per share.

c$.$ Issued $13,000$ shares of preferred $2\%$ stock at $$89.$

d$.$ Issued $60,000$ shares of common stock at $$32,$ receiving cash.

e$.$ Sold $12,000$ shares of treasury common for $$24$ per share.

f$.$ Declared cash dividends of $$1\mathrm{.}50$ per share on preferred stock and $$0\mathrm{.}04$ per share on common stock.

g$.$ Paid the cash dividends.

Required:

Journalize the entries to record the transactions.

If an amount box does not require an entry, leave it blank.

a$.$

$$

$$

$$

b$.$ d$.$

$3$ more Check My Work uses remaining.

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