Garcia Corporation recently hired a new accountant with extensive experience in accounting for partnerships. Because of the pressure of the new job, the accountant was unable to review what he had learned earlier about corporation accounting. During the first month, he made the following entries for the corporations capital stock.

May 2		Cash		109,200
		Capital Stock				109,200
		(Issued 7,800 shares of $11 par value common stock at $14 per share)
10		Cash		692,160
		Capital Stock				692,160
		(Issued 12,360 shares of $18 par value preferred stock at $56 per share)
15		Capital Stock		7,900
		Cash				7,900
		(Purchased 790 shares of common stock for the treasury at $10 per share)