Post to the stockholders' equity accounts. (Post entries in the order of journal entries presented in the previous part.) Preferred Stock Date Explanation Ref. Debit Feb. 1 July 1 Paid-in Capital in Excess of Par-Preferred Stock Date Explanation Ref. Feb. 1 July 1 Debit Credit Balance Credit Balance Pina Colada Corporation is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock. Feb. 1 Issued 18,500 shares for cash at $57 per share. July 1 Issued 15,000 shares for cash at $61 per share.