Problem In its first year ol operations, Martinez Corporation had the following transactions pertaining to s 10 par vahie preferred stock. Feb 1,000 shares for cash at 524 per share July 1 wed 6,000 shares for cast 525 per share (a) Journalize the transactions chi Indicate the amount to be reported for (1) preferred stock and 2) paid in capital in excess of purvalue preferred stock at the end of the year