Question 7 of 19 - /25 E Current Attempt in Progress On January 5, 2020, Buffalo Corporation received a charter granting the right to issue 5.400 shares of $100 par value, 8% cumulative and nonparticipating preferred stock, and 45,600 shares of $10 par value common stock. It then completed these transactions. Jan. 11 Feb. 1 July 29 Aug. 10 Dec. 31 Dec. 31 Issued 21400 shares of common stock at $15 per share. Issued to Sanchez Corp. 4,100 shares of preferred stock for the following assets: equipment with a fair value of $54,400, a factory building with a fair value of $155.000; and land with an appraised value of $249,000. Purchased 1,800 shares of common stock at $15 per share. (Use cost method) Sold the 1,800 treasury shares at $12 per share Declared a $0.25 per share cash dividend on the common stock and declared the preferred dividend, Closed the Income Summary account. There was a $168.000 net income. (a) Record the journal entries for the transactions listed above. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select 'No Entry for the account titles and enter for the amounts. Record entries in the order displayed in the problem statement Round answers to decimal places, c.8.$5,275) Debit Credit Date Account Titles and Explanation 21 MacBook Air Cod -/25 Question 7 of 19 Debit Account Titles and Explanation Date Credit Feb. 1 Aug. 10 21 KE 2 A MacBook Air Question 7 of 19 -/25 Aug. 10 > e Textbook and Media List of Accounts Attempts:0 of 3 used Submit Answer Save for Later 9 21 MacBook Air