Packet Exercise 11.4 Tyler Corporation was organized in 2020. Its corporate charter authorized the issuance of 500,000 shares of common stock with a par value $5 per share and 10,000 shares of 8% preferred stock. The preferred stock has a par value of $20 per share. Part A - Prepare journal entries for each of the following transactions: January 1, 2020 Tyler Inc. issued 45,000 shares of common stock for cash at $25 per share. Date Account Debit Credit February 1, 2020 Sold and issued 5,000 shares of preferred stock for cash at par value ($20 per share). Date Account Debit Credit June 1, 2020 Tyler Inc. purchased 7,500 shares of the company's common stock at a cost of $24 per share. Date Account Debit Credit August 1, 2020 Reissued (sold) 1,000 shares of the treasury stock at $26 per share. Date Account Debit Credit October 1, 2020 Reissued (sold) another 1,500 shares of the treasury stock at $23 per share. Transaction Account Debit Credit