P11-3 (Algo) Recording Transactions Affecting Stockholders' Equity LO 11-01, 11-3, 11-8 King Corporation began operations in January of the current year. The charter authorized the following stock: Preferred stock: 10 percent, $11 par value, 41,400 shares authorized Common stock: $6 par value, 86,700 shares authorized During the current year, the following transactions occurred in the order given: a. Issued 23,600 shares of common stock for $10 per share. b. Sold 8,900 shares of the preferred stock at $21 per share. c. Sold 1,400 shares of the preferred stock at $21 per share and 3,300 shares of common stock at $11 per share. Required: Provide the journal entries required to record each of the transactions in (a) through (c). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction liat Journal entry worksheet > Issued 23,600 shares of common stock for $10 per share. Note: Enter debits before credits Transaction Dobit Credit General Journal Cash Common stock Additional paid in capital, common stock