PR 13-3A Selected stock transactions Obj. 3, 4,6 The following selected accounts appear in the ledgernof Parks Construction Inc. at the beginning of the current year: Show Me How Preferred 2% Stock S75 par (100,000 shares authorized, 80,000 shares issued) .. $6,000,000 420,000 Common Stock, $8 par (5,000,000 shares authorized, 3,000,000 shares issued).....24,000,000 1,850,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 400,000 shares of common stock at $11, receiving cash. b. Issued 5,000 shares of preferred 2% stock at $90. c. Purchased 150,000 shares of treasury common for $10 per share. d. Sold 80,000 shares of treasury common for $13 per share. e. Sold 20,000 shares of treasury common for $9 per share. f. Declared cash dividends of $1.50 per share on preferred stock and $0.06 per share on Preferred 2% Stock, S75 par (100,000 shares authorized, 80,000 shares issued).. . .. 420,000 Common Stock, $8 par (5,000,000 shares authorized, 3,000,000 shares issued)...24,000,000 1,850,000 Retained Earnings.... 115.400,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows a. Issued 400,000 shares of common stock at $11, receiving cash. b. Issued 5,000 shares of preferred 2% stock at $90. c. Purchased 150,000 shares of treasury common for $10 per share. d. Sold 80,000 shares of treasury common for $13 per share. e. Sold 20,000 shares of treasury common for $9 per share. f. Declared cash dividends of $1.50 per share on preferred stock and so.06 per share on common stock. g. Paid the cash dividends. Instructions Journalize the entries to record the transactions. Identify each entry by letter