On January 5, 2020, Blue Corporation received a charter granting the right to issue 5,200 shares of $100 par value, 8% cumulative and nonparticipating preferred stock, and 51,700 shares of $10 par value common stock. It then completed these transactions. Jan. 11 Feb. 1 July 29 Aug. 10 Dec. 31 Dec. 31 Issued 19,800 shares of common stock at $15 per share. Issued to Sanchez Corp. 3,900 shares of preferred stock for the following assets: equipment with a fair value of $49,200; a factory building with a fair value of $160,000; and land with an appraised value of $297,000. Purchased 1.800 shares of common stock at $19 per share. (Use cost method.) Sold the 1,800 treasury shares at $15 per share. Declared a $0.50 per share cash dividend on the common stock and deklared the preferred dividend. Closed the Income Summary account. There was a $163,800 net income. estion 4 of 5 8.64/25 entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Record entries in the order displayed in the problem statement. Round answers to decimal places, e.g. $5,275.) Date Account Titles and Explanation Debit Credit an. 11 Cash 297,000 Pald-in Capital in Excess of Par - Common Stock 198,000 Common Stock 99000 .1 Land 297,000 Buildings 160,000 Equipment 49.200 Paid-in Capital in Excess of Par-Preferred Stock 390,000 Preferred Stock 116200 uly 29 Treasury Stock 34200 Cash 34200 1. 10 Cash 27000 Retained Earnings 7200 Treasury Stock 34200 Jer. 31 Retained Earnings Dividends Payable Jeu 31 Income Summary Retained Earnings