Exercise 11-10 a-b (Video) (Part Level Submission) Bramble Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $52. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock. Feb. 1 Issued 21,000 shares for cash at $56 per share. July 1 Issued 10,000 shares for cash at $60 per share. (a) Your answer is correct. Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Feb. 1V Cash 1176000 Preferred Stock 1092000 Paid-in Capital in Excess of Par-Preferred Stock 84000 July 1 v Cash 600000 Preferred Stock 520000 Paid-in Capital in Excess of Par-Preferred Stock 80000 (b) Your answer is partially correct. Try again. Post to the stockholders' equity accounts. (Post entries in the order of journal entries presented in the previous part.) Preferred Stock Date Explanation Ref. Debit Credit Balance Feb. 17 July 1 v Paid-in Capital in Excess of Par-Preferred Stock Date Explanation Ref. Debit Credit Balance Feb. 1V X July 1 v Attempts: 1 of 2 used