King Corporation began operations in January of the current year. The charter authorized the following stock:

Preferred stock: 10 percent, $12 par value, 40,300 shares authorized

Common stock: $7 par value, 86,700 shares authorized

During the current year, the following transactions occurred in the order given:

1. Issued 22,400 shares of common stock for $11 per share.
2. Sold 7,700 shares of the preferred stock at $22 per share.
3. Sold 2,100 shares of the preferred stock at $22 per share and 2,900 shares of common stock at $12 per share.

Required:

Provide the journal entries required to record each of the transactions in (a) through (c). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)