Instructions Chart of Accounts Journal Instructions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year. Preferred 1% Stock $50 par (100,000 shares authorized, 75,100 shares issued) $3,755,000 Paid-In Capital in Excess of Par-Preferred Stock 165,220 Common Stock, $3 par (5,000,000 shares authorized, 1,690,000 shares issued) 5,070,000 Paid-In Capital in Excess of Par-Common Stock 1,014,000 Retained Earnings 30,836,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 454.700 shares of common stock at $8, receiving cash b. Issued 11.800 shares of preferred 1% stock at 951. o Purchased 48.500 shares of treasury common for $8 per share d Sold 20,700 shares of treasury common for $10 per share eSold 5.700 shares of treasury common for $7 per share f Declared cash dividends of $0 60 per share on preferred stock and $0.10 per share on common stock 9 Paid the cash dividends. Journalize the entries to record the transactions Refer to the Chart of Accounts for exact wording of account boles