Gilliam 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 his textbooks on the topic of corporation accounting. During the first month, the accountant made the following entries for the corporation's capital stock. May Cash 223,500 Capital Stock 223,500 (Issued 14,900 shares of $12 par value common stock at $15 per 10 Cash 953,600 Capital Stock 953,600 (Issued 14,900 shares of $54 par value preferred stock at $64 per share) 15 Capital Stock 15,400 Cash 15,400 (Purchased 1,100 shares of common stock for the treasury at $14 per 31 Cash 8,475 Capital Stock 5,650 Gain on Sale of Stock 2,825 (Sold 565 shares of treasury stock at $15 per share) On the basis of the explanation for each entry, prepare the entry that should have been made for the capital stock 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.) tities and enter o for the amounts.) Account Titles and Explanation Debit Credit Date SHOW LIST OF ACCOUNTS Accounts Payable Accounts Receivable Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Allowance for Doubtful Accounts Bad Debts Expense Buildings Cash Cash Dividends Common Stock Common Stock Dividends Distributable Cost of Goods Sold Depreciation Expense Dividends Payable Equipment Income Summary Interest Expense Interest Payable Land No Entry Operating Expenses Organization Expense Other Operating Expenses Paid-in Capital from Treasury Stock Paid-in Capital in Excess of Par-Common Stock Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Patents Preferred Stock Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Sales Revenue Service Revenue Stock Dividends Supplies Supplies Expense Treasury Stock Unearned Service Revenue