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6. Presented below is the stockholders' equity of the balance sheet as of April 30 Paid-in Capital Preferred Stock, 12%, P100 par (20,000 shares authorized, 15,000 shares issued) P 1,500,000 Premium on Preferred Stock 40,000 P 1,540,000 Common Stock, P 50 par (100,000 shares authorized, 60,000 shares issued) 3,000,000 Premium on Common Stock 100,000 3,100,000 Total Paid-in Capital 4,640,000 Retained Earnings 500,000 Total Stockholders' Equity P 5,140,000 During the next eight months, selected transactions are: May 10 Received subscriptions to 5,000 shares of preferred stock at P 102, Collecting half of the subscription price. July 15 Purchased 10,000 shares of treasury common for P600,000, Sept. 10 _: Received 25% of the subscription price of the preferred stock. Oct. 25 : Sold 6,000 shares of treasury common for P 420,000 Dec.10 Received the balance due on preferred stock subscribed and issued the Shares. Dec.20 Sold 3,000 shares of treasury common for P 150,000. Dec.29 Retired the remaining 1,000 shares of treasury common. INSTRUCTIONS: Prepare all entries necessary to record the above information