Miles Co. had these transactions during the current period. June 12 Issued 50,000 shares of $3 stated value common stock for cash of $250,000. July 11 Issued 2,000 shares of $100 par value preferred stock for cash at $108 per share. Nov. 28 Purchased 2,000 shares of treasury stock for $10,000. Instructions Prepare the journal entries for the preceding transactions.