King Corporation began operations in January of the current year. The charter authorized the following stock: Preferred stock: 10 percent, $11 par value, 40,000 shares authorized Common stock: $6 par value, 86,600 shares authorized During the current year, the following transactions occurred in the order given: a. Issued 23,900 shares of common stock for $10 per share. b. Sold 7,700 shares of the preferred stock at $21 per share. c. Sold 1,100 shares of the preferred stock at $21 per share and 2,600 shares of common stock at $11 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 1 2 3 Issued 23,900 shares of common stock for $10 per share. Note: Enter debits before credits. Transaction a. General Journal Debit Credit Record entry Clear entry View general journal >