Preferred 2% Stock, $200 par (50,000 shares authorized, 25,000 shares issued) $5,000,000 Paid-In Capital in Excess of ParPreferred Stock 600,000 Common Stock, $25 par (700,000 shares authorized, 210,000 shares issued) 5,250,000 Paid-In Capital in Excess of ParCommon Stock 680,000 Retained Earnings 24,444,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: Issued 70,000 shares of common stock at $29, receiving cash. Issued 13,000 shares of preferred 2% stock at $220. Purchased 42,000 shares of treasury common for $26 per share. Sold 21,000 shares of treasury common for $29 per share. Sold 14,000 shares of treasury common for $24 per share. Declared cash dividends of $4.00 per share on preferred stock and $0.10 per share on common stock. Paid the cash dividends. Required: Journalize the entries to record the transactions. If an amount box does not require an entry, leave it blank. Question Content Area a. Issued 70,000 shares of common stock at $29, receiving cash. blank Cash Cash 14,000,000 Cash Common Stock Common Stock Common Stock 1,750,000 Paid-In Capital in Excess of Par-Common Stock Paid-In Capital in Excess of Par-Common Stock Paid-In Capital in Excess of Par-Common Stock 280,000 Question Content Area b. Issued 13,000 shares of preferred 2% stock at $220. blank Cash Cash 2,860,000 Cash Preferred Stock Preferred Stock Preferred Stock 2,600,000 Paid-In Capital in Excess of Par-Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock Question Content Area c. Purchased 42,000 shares of treasury common for $26 per share. blank Treasury Stock Treasury Stock Treasury Stock Cash Cash Cash Question Content Area d. Sold 21,000 shares of treasury common for $29 per share. blank Cash Cash Cash Treasury Stock Treasury Stock Treasury Stock Paid-In Capital from Sale of Treasury Stock Paid-In Capital from Sale of Treasury Stock Paid-In Capital from Sale of Treasury Stock Question Content Area e. Sold 14,000 shares of treasury common for $24 per share. blank Cash Cash Cash Paid-In Capital from Sale of Treasury Stock Paid-In Capital from Sale of Treasury Stock Paid-In Capital from Sale of Treasury Stock Treasury Stock Treasury Stock Treasury Stock Question Content Area f. Declared cash dividends of $4.00 per share on preferred stock and $0.10 per share on common stock. blank Cash Dividends Cash Dividends Cash Dividends Cash Dividends Payable Cash Dividends Payable Cash Dividends Payable Question Content Area g. Paid the cash dividends.