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Gerber Corporation was organized on July 15, 2016. It was authorized to issue 150,000 shares of $5 par value common stock and 50,000 shares of

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Gerber Corporation was organized on July 15, 2016. It was authorized to issue 150,000 shares of $5 par value common stock and 50,000 shares of 9% cumulative class A preferred stock. The class A preferred stock had a stated value of $10 per share. The following stock transactions relate to Gerber Corporation. 1) Issued 50,000 shares of common stock for $22 per share. 2) Issued 4,000 shares of the class A preferred stock for $20 per share. 3) Issued 27, 500 shares of common stock for $28 per share. Prepare the general journal entries for the above transactions

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