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Preferred stock: 10 percent, $12 par value, 41,000 shares authorized Common stock: $7 par value, 85,500 shares authorized During the current year, the following transactions
Preferred stock: 10 percent, $12 par value, 41,000 shares authorized Common stock: $7 par value, 85,500 shares authorized During the current year, the following transactions occurred in the order given: a. Issued 23,000 shares of common stock for $11 per share. b. Sold 7,400 shares of the preferred stock at $22 per share. c. Sold 2,500 shares of the preferred stock at $22 per share and 2,300 shares of common stock at $12 per share. Required: Provide the journal entries required to record each of the transactions in (a) through (c). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) ........ View transaction list View journal entry worksheet Credit No Transaction General Journal Debit Cash 253,000 a. 92,000 Common stock Additional paid-in capital, common stock Cash b. Preferred stock Additional paid-in capital, preferred stock 3 Cash C. Preferred stock Common stock Additional paid-in capital, preferred stock Additional paid-in capital, common stock
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