Monty Corp. has been authorized to issue 19,900 shares of $100 par value, 6%, noncumulative preferred stock and 1,090,000 shares of no-par common stock.

The corporation assigned a $4 stated value to the common stock. At December 31, 2022, the ledger contained the following balances pertaining to stockholders equity.

Preferred Stock $149,000

Paid-in Capital in Excess of Par ValuePreferred Stock 20,900

Common Stock 1,955,000

Paid-in Capital in Excess of Stated ValueCommon Stock 1,500,000

Treasury Stock (3,980 common shares) 39,800

Retained Earnings 84,500

Accumulated Other Comprehensive Income 48,900

The preferred stock was issued for $169,900 cash. All common stock issued was for cash. In November 3,980 shares of common stock were purchased for the treasury at a per share cost of $10. No dividends were declared in 2022.

Prepare the journal entries for the following. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) (2) (3) Issuance of preferred stock for cash. Issuance of common stock for cash. Purchase of common treasury stock for cash. No. Account Titles and Explanation Debit Credit 1 2. 3