Percy Corporation was organized on January 1, 2018, with an authorization of 1,200,000 shares of common stock with a par value of $6 per share. During 2018, the corporation had the following capital transactions:

January 5 July 28 December 31

issued 600,000 shares @ $10 per share purchased 80,000 shares @ $11 per share sold the 80,000 shares held in treasury @ $18 per share

Percy used the cost method to record the purchase and reissuance of the treasury shares. What is the total amount of additional paid-in capital as of December 31, 2018?

PLEASE SHOW JOURNALENTRIES AND UPDATE T-ACCOUNT