Problem 13-06A a-b (Video) Bridgeport Corporation has been authorized to issue 21,000 shares of $100 par value, 10%, preferred stock and 993,600 shares of no-par common stock. The corporation assigned a $2.40 stated value to the common stock. At December 31, 2020, the ledger contained the following balances pertaining to stockholders' equity. Preferred Stock $110,000 Paid-in Capital in Excess of Par-Preferred Stock 30,000 Common Stock 993,600 Paid-in Capital in Excess of Stated Value-Common Stock 1,490,400 Treasury Stock (1,200 common shares) 13,200 Paid-in Capital from Treasury Stock 1,800 Retained Earnings 81,000 Accumulated Other Comprehensive Income 58,000 The preferred stock was issued for land having a fair value of $140,000. All common stock issued was for cash. In November, 1,800 shares of common stock were purchased for the treasury at a per share cost of $11. In December, 600 shares of treasury stock were sold for $14 per share. No dividends were declared in 2020. Prepare the journal entries for the: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (1) Issuance of preferred stock for land. (2) Issuance of common stock for cash. (3) Purchase of common treasury stock for cash. (4) Sale of treasury stock for cash. No. Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Prepare the stockholders' equity section at December 31, 2020. (Enter the account name only and do not provide the descriptive information provided in the question.) BRIDGEPORT CORPORATION Balance Sheet (Partial) Click if you would like to Show Work for this question: Open Show Work