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, 40,800 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 22,200 shares of common stock for $10 per share. . Sold 8,900 shares of the preferred stock at $21 per share. c. Sold 2,100 shares of the preferred stock at $21 per share and 2,800 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 list Journal entry worksheet 1 2 3 Issued 22,200 shares of common stock for $10 per share. Note: Enter debits before credits. Transaction a. General Journal Debit Credit Record entry Clear entry View general journal > View transaction list 1 Issued 22,200 shares of common stock for $10 per share. 2 Sold 8,900 shares of the preferred stock for $21 per share. 3 Sold 2,100 shares of the preferred stock for $21 per share and 2,800 shares of common stock for $11 per share. Note: = journal entry has been entered Credit Record entry View general journal Clear entry >