"HW-Ch11 X * Ask a Question X thinkwell | next ge x thinkwell | next ge x thinkwell | next ge x thinkwell | next ge x thinkwell | next ge x thinkwell | next ge x C coc.instructure.com/courses/19919/assignments/507400?module_item_id=1032471 G + Library Question 25 --/5 The Learning Center View Policies ConferZOOM Current Attempt in Progress Account Purchase Course Materials The stockholders' equity accounts of Monty Corp. on January 1, 2020, were as follows. Dashboard Google Drive Preferred Stock (8%, $52 par, cumulative, 10,000 shares authorized) $ 416,000 NameCoach Common Stock ($1 stated value, 2,100,000 shares authorized) 1,450,000 110,000 Courses Campus Resource Paid-in Capital in Excess of Par-Preferred Stock Guide Paid-in Capital in Excess of Stated Value-Common Stock 1,400,000 Retained Earnings 1,850,000 Calendar Treasury Stock (11,000 common shares) 55,000 Inbox During 2020, the corporation had the following transactions and events pertaining to its stockholders' equity. ? Help Feb. 1 Issued 26,000 shares of common stock for $116,000. Apr. 14 Sold 5,500 shares of treasury stock-common for $33,900. Sept. 3 Issued 4,800 shares of common stock for a patent valued at $34,100. Nov. 10 Purchased 1,000 shares of common stock for the treasury at a cost of $5,700. Dec. 31 Determined that net income for the year was $465,000. No dividends were declared during the year. Journalize the transactions and the closing entry for net income. (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 O for the amounts.) K Date Account Titles and Explanation Debit Credit