Issuing and Repurchasing Stock Redbird, Inc., had the following transactions related to its common and preferred stock: March 22 Sold 50,000 shares of $0.50 par common stock for $12 per share. Sold 2,000 shares of $10 par preferred stock at $14 per share. November 9 Repurchased 3,370 shares of the common stock at $20 per share. Required: Prepare the journal entries for these transactions. If an amount box does not require an entry, leave it blank. Mar. 22 Cash Common Stock Additional Paid-In Capital-Common Stock Preferred Stock Additional Paid-In Capital-Preferred Stock Nov. 9 Treasury Stock Cash