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Entries for Issuing Stock On January 22, Muir Corporation issued for cash 14,000 shares of no-par common stock at $40. On February 14, Muir issued

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Entries for Issuing Stock On January 22, Muir Corporation issued for cash 14,000 shares of no-par common stock at $40. On February 14, Muir issued at par value 4,000 shares of preferred 4% stock, $60 par for cash. On August 30, Muir issued for cash 27,000 shares of preferred 4% stock, $60 par at $67. Journalize the entries to record the January 22, February 14, and August 30 transactions. If an amount box does not require an entry, leave it blank. Jan. 22 Cash 560,000 Common Stock 560,000 Feb. 14 Cash 240,000 Preferred Stock 240,000 Aug. 30 Cash Preferred Stock 1,620,000 Paid-In Capital in Excess of Par-Preferred Stock 1,809,000 X 1,809,000 X

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