Martinez Corporation is authorized to issue both preferred and common stock. The par value of the preferred is $48. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock. Feb. 1 July 1 Issued 19,500 shares for cash at $58 per share. Issued 11,500 shares for cash at $62 per share. Part 1 Part 2 Post to the stockholders' equity accounts. (Post entries in the order of journal entries presented in the previous part.) Preferred Stock Date Explanation Ref. Debit Feb. 1 July 11 Paid-in Capital in Excess of Par-Preferred Stock Date Explanation Ref. Debit Feb. 11 July 1 Credit Balance Credit: Balance: