Pina Colada Corp. was organized on January 1, 2022. It is authorized to issue 19,300 shares of 5%, $52 par value preferred stock and 461,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year.

Jan.	10		Issued 70,500 shares of common stock for cash at $6 per share.
Mar.	1		Issued 1,210 shares of preferred stock for cash at $57 per share.
May	1		Issued 115,500 shares of common stock for cash at $6 per share.
Sept.	1		Issued 5,100 shares of common stock for cash at $4 per share.
Nov.	1		Issued 3,100 shares of preferred stock for cash at $54 per share.

(a)

	Your answer is correct.

Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

(b) Post to the stockholders equity accounts. (Post entries in the order of journal entries posted in the previous part.)

Date Account Titles and Explanation Debit Credit Jan. 10 Cash 4230001 Common Stock 70500 352500 Paid-in Capital in Excess of Stated Value-Commor Mar. 1 Cash 68970 T E Preferred Stock = 62920 LO 6050 Paid-in Capital in Excess of Par Value-Preferred st! PE Cash May 1 69300 Common Stock 115500 Paid-in Capital in Excess of Stated Value-Commor 577500 Sept. 1 cash Cash 20400 Common Stock 5100 Paid-in Capital in Excess of Stated Value-Commo T 15300 Nov. 1 Cash 1674001 Preferred Stock 161200 Paid-in Capital in Excess of Par Value-Preferred St JT 6200 Preferred Stock Paid-in Capital in Excess of Par Value-Preferred Stock Common Stock Paid-in Capital in Excess of Stated Value-Common Stock