Question 41 Martinez Corp. recently hired a new accountant with extensive experience in accounting for partnerships. Because of the pressure of the new job, the accountant was unable to review what he had learned earlier about corporation accounting During the first month, he made the following entries for the corporation's capital stock. 104,000 104,000 May 2 Cash Capital Stock (Issbed 8,000 shares of $11 par value common stock at $13 per share) 10 Cash Capital Stock (Issued 15,000 shares of $16 par value preferred stock at $54 per share) 15 Capital Stock Cash (Purchased 620 shares of common stock for the treasury at $13 per share) 810,000 810,000 8,060 8,060 Date Account Titles and Explanation Debit Credit Question 41 Martinez Corp. recently hired a new accountant with extensive experience in accounting for partnerships. Because of the pressure of the new job, the accountant was unable to review what he had learned earlier about corporation accounting During the first month, he made the following entries for the corporation's capital stock. May 2 Cash 104,000 Capital Stock 104,000 (Issued 8,000 shares of $11 par value common stock at $13 per share) 10 Cash 810,000 Capital Stock 810,000 (Issued 15,000 shares of $16 par value preferred stock at $54 per share) 15 Capital Stock 8,060 Cash 8,060 (Purchased 620 shares of common stock for the treasury at $13 per share) On the bags of the explanation for each entry, prepare the entries that should have been made for the capital stock! bansactions (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No h e account titles and enter o for the amounts.) C transactions. (Record journal entries in the order presented in the problem. Credit account titles are planation for each entry, prepare the entries that should have been made for the capital stock automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account tities and enter o for the amounts.) Date Account Tities and Explanation Debit Credit