Peniand Comporation is authorized to issue both preferred and commonstock The paryalue of the preterrod stock is $50, During the first vear of operations, the company had the followngevents and transactions pertaning to its preterred stock: Feb. 1 Iswed 40.000 shares for cashat 551 perahsire. fuly 1 issued 60,000 thares for cash at $56 per mare. Post to the stockholders' equity accounts, (Post entries in the order of journat entries presented in the previous part.) Date Account Titles and Explanation Debit Credit Feb: 1: July 1