Preferred 2% Stock, $75 par (50,000 shares authorized, 25,000 shares issued) $1,875,000 300,000 6,250,000 810,000 19,578,000 Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $25 par (800,000 shares authorized, 250,000 shares issued) Paid-In Capital in Excess of Par-Common Stock Retained Earnings During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 80,000 shares of common stock at $29, receiving cash. b. Issued 13,000 shares of preferred 2% stock at $92. c. Purchased 48,000 shares of treasury common for $30 per share. d. Sold 24,000 shares of treasury common for $33 per share. e. Sold 16,000 shares of treasury common for $28 per share. f. Declared cash dividends of $1.50 per share on preferred stock and $0.08 per share on common stock g. Paid the cash dividends. Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. Required a. Issued 80,000 shares of common stock at $29, receiving cash b. Issued 13,000 shares of preferred 2% stock at $92. c. Purchased 48,000 shares of treasury common for $30 per share. d. Sold 24,000 shares of treasury common for $33 per share. e. Sold 16,000 shares of treasury common for $28 per share. f. Declared cash dividends of $1.50 per share on preferred stock and $0.08 per share on common stock g. Paid the cash dividends