Only need B!

Bridgeport Corporation is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock. Feb. 1 Issued 22,500 shares for cash at $56 per share. July 1 Issued 14,000 shares for cash at $60 per share. Your answer is correct. Journalize the transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Feb. 1 Cash 1260000 Preferred Stock 1125000 Pald-in Capital in Excess of Par Preferred Stock 135000 July 1 Cash 840000 Preferred Stock 700000 Paid-in Capital in Excess of Par-Preferred Stock 140000 (b) 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 Credit Balance Feb. 1 July 1 Paid-in Capital in Excess of Par-Preferred Stock Date Explanation Ref. Debit Credit Balance Feb. 1 July 1