Instructions Journalize the entries to record the May transactions PR 13-3A Selected stock transactions OBJ. 3, 4, 6 6 beginning of the current year: 8 vidends, The following selected accounts appear in the ledger of Parks Construction Inc. at the Preferred 296 Stock, $75 par (100,000 shares authorized, 80,000 shares issued). $ 6,000,000 420,000 24,000,000 1,850,000 115,400,000 Common Stock, $8 par (5,000,000 shares authorized, 3,000,000 shares issued)........ During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 400,000 shares of common stock at $11, receiving cash. b. Issued 5,000 shares of preferred 2% stock at $90. c. Purchased 150,000 shares of treasury common for $10 per share. d. Sold 80,000 shares of treasury common for $13 per share. e. Sold 20,000 shares of treasury common for $9 per share. f. Declared cash dividends of $1.50 per share on preferred stock and $0.06 per share on common stock g. Paid the cash dividends. Instructions Journalize the entries to record the transactions. Identify each entry by letter