elected Stock Transactions

The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year:

Preferred 2% Stock, $200 par (30,000 shares authorized, 15,000 shares issued)	$3,000,000
Paid-In Capital in Excess of ParPreferred Stock	360,000
Common Stock, $10 par (800,000 shares authorized, 300,000 shares issued)	3,000,000
Paid-In Capital in Excess of ParCommon Stock	390,000
Retained Earnings	14,310,000

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

Issued 80,000 shares of common stock at $17, receiving cash.

Issued 8,000 shares of preferred 2% stock at $213.

Purchased 48,000 shares of treasury common for $13 per share.

Sold 24,000 shares of treasury common for $16 per share.

Sold 16,000 shares of treasury common for $11 per share.

Declared cash dividends of $4.00 per share on preferred stock and $0.08 per share on common stock.

Paid the cash dividends.

Journalize the entries to record the transactions.

For a compound transaction, if an amount box does not require an entry, leave it blank.

Required:a. Issued 80,000 shares of common stock at $17, receiving cash

Issued 8,000 shares of preferred 2% stock at $213

c. Purchased 48,000 shares of treasury common for $13 per share.

d. Sold 24,000 shares of treasury common for $16 per share.

e. Sold 16,000 shares of treasury common for $11 per share.

f. Declared cash dividends of $4.00 per share on preferred stock and $0.08 per share on common stock.

g. Paid the cash dividends.