Issuing and Repurchasing Stock

Redbird, Inc., had the following transactions related to its common and preferred stock:

January 15		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.
October 1		Repurchased 4,050 shares of the common stock at $20 per share.

Required:

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Prepare the journal entries for the above transactions. For a compound transaction, if an amount box does not require an entry, leave it blank.

Jan. 15
	(Record sale of preferred and common stock)
Oct. 1
	(Record purchase of treasury shares)