preferred stock ($100 par, 6%, 50,000 shares authorized, 10,000 shares issues and outstandin

common stock ($1 par value, 500,000 shares authorized, 125,000 issued and 110,000 outstanding

prepare journal entries for :

1. issued 125,000 saures of $1 par value common stock for cash $200,000

2. purchased 15,000 shares of their own common stock for $5 per share

3. Issued 3,000 shares of preferred stock, $100 par, 6%. for $120 a share