Prepare the journal entries to record the above stock transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation Debit Credit 1. Cash Preferred Stock Paid-in Capital in Excess of Par-Common Stock 2. Cash Common Stock Paid-in Capital in Excess of Par-Common Stock eTextbook and Media. 216000 200000 16000 130000 70000 60000 View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct. Wise Company had the following transactions. 1. Issued 7,000 shares of common stock with a stated value of $10 for $130,000. 2. Issued 2,000 shares of $100 par preferred stock at $108 for cash.