REQUIRED Prepare journal entries to record the transactions. STOCKHOLDERS' EQUITY SECTION After closing its books on December 31 20-, Jackson Corporation's stockholders' equity accounts had the following balances: Account Preferred Stock Subscriptions P 2 0-10A (L04) Total paid-in capital: $491,000 Balance Additional Information Receivable $15,000 Common Stock Subscriptions Preferred Stock Subscribed Common Stock Subscribed Receivable 10,000 $4 dividend, $5 par, 10,000 shares $10 par, 3,000 shares $4 dividend, $5 par, 30,000 shares $10 par, 25,000 shares 50,000 30,000 150,000 250,000 10,000 Preferred Stock Common Stock Paid-In Capital in Excess of Par-Preferred Stock