King Corporation began operations in January of the current year. The charter authorized the following stock: Preferred stock: 10 percent, $12 par value, 40,200 shares authorized Common stock: $7 par value, 86,200 shares authorized During the current year, the following transactions occurred in the order given: a. Issued 22,400 shares of common stock for $11 per share. b. Sold 8,800 shares of the preferred stock at $22 per share. c. Sold 1,400 shares of the preferred stock at $22 per share and 1,900 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.) View transaction list Journal entry worksheet Sold 8,800 shares of the preferred stock for $22 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit b. Record entry Clear entry View general journal King Corporation began operations in January of the current year. The charter authorized the following stock: Preferred stock: 10 percent, $12 par value, 40,200 shares authorized Common stock: $7 par value, 86,200 shares authorized During the current year, the following transactions occurred in the order given: a. Issued 22,400 shares of common stock for $11 per share. b. Sold 8,800 shares of the preferred stock at $22 per share. c. Sold 1,400 shares of the preferred stock at $22 per share and 1,900 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.) View transaction list Journal entry worksheet 2 3 Sold 1,400 shares of the preferred stock for $22 per share and 1,900 shares of common stock for $12 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit c. Record entry Clear entry View general journal