Pina Colada Corporation recently hired a new accountant with extensive experience in accounting for partnerships. Because of the pressure of the new job, the accountant was unable to review his textbooks on the topic of corporation accounting. During the first month, the accountant made the following entries for the corporation's capital stock. May 2 Cash 148,200 Capital Stock 148,200 (Issued 11,400 shares of $10 par value common stock at $13 per share) 10 Cash 684,000 Capital Stock 684,000 (Issued 11,400 shares of $50 par value preferred stock at $60 per share) 15 Capital Stock 20,250 Cash 20,250 (Purchased 1,350 shares of common stock for the treasury at $15 per share) Cash 14,400 Capital Stock 9,000 Gain on Sale of Stock 5,400 (Sold 900 shares of treasury stock at $16 per share) On the basis of the explanation for each entry, prepare the entry that should have been made for the capital stock 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.) Date Account Titles and Explanation Debit Credit