On January 5, 2025, Blue Corporation received a charter granting the right to issue 4,800 shares of $100 par value, 8% cumulative and nonparticipating preferred stock, and 46,600 shares of $10 par value common stock. It then completed these transactions. Jan. 11 Feb. 1 July 29 Aug. 10 Dec. 31 Dec. 31 (a) Issued 19,200 shares of common stock at $14 per share. Issued to Sanchez Corp. 4,100 shares of preferred stock for the following assets: equipment with a fair value of $54,700; a factory building with a fair value of $156,000; and land with an appraised value of $293,000. Purchased 1,700 shares of common stock at $17 per share. (Use cost method.) Sold the 1,700 treasury shares at $15 per share. Declared a $0.40 per share cash dividend on the common stock and declared the preferred dividend. Closed the Income Summary account. There was a $181,300 net income. Record the journal entries for the transactions listed above. (List all debit entries before credit entries. Credit account titles are automatically indented when the 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. Record entries in the order displayed in the problem statement.) Date Account Titles and Explanation Debit Credit

On January 5,2025 , Blue Corporation received a charter granting the right to issue 4,800 shares of $100 par value, 8% cumulative and nonparticipating preferred stock, and 46,600 shares of $10 par value common stock. It then completed these transactions. Jan.11 Issued 19,200 shares of common stock at \$14 per share. Feb. 1 Issued to Sanchez Corp, 4,100 shares of preferred stock for the following assets: equipment with a fair value of $4,700; a factory buliling with a fair value of $156,000; and land with an appraised value of $293,000. July 29 Purchased 1,700 shares of common stock at $17 per share. (Use cost method) Aug. 10 Sold the 1,700 treavury shares at $15 per shure. Dec. 31 Declared a 50.40 per share cash dividend on the common stock and declared the preferred dividend. Dec. 31 Closed the Income Summary account. There was a $181,300 net income. (a) Record the journal entries for the transactions listed above. (List all debit entries before credit entries. Gedit occount tiller ere outomatically indented when the amount is entered. Do not indent manualing. If no entry is required, select "No Entry" for the occount biden and enter ofor the amounts. Record entries in the order disployed in the problem statement.)