Identifying and Analyzing Financial Statement Effects of Stock Transactions Lipe Company reports the following transactions relating to its stock accounts. Feb. 20 Issued 18,000 shares of $1 par value common stock at $25 cash per share. Feb. 21 Issued 27,000 shares of $100 par value, 8% preferred stock at $250 cash per share. Jun. 30 Purchased 3,600 shares of its own common stock at $15 cash per share. Sep. 25 Sold 1,800 shares of the treasury stock at $21 cash per share. a. Prepare the journal entries for these transactions. b. Post the journal entries to the related T-accounts. a. Prepare the journal entries for these transactions. a. Prepare the journal entries for these transactions. b. Post the journal entries to the related T-accounts. b. Post the journal entries to the related T-accounts. NOTE: Enter your answers, in transaction order, in the first open field of the appropriate column in each account