Selected stock transactions Diamondback Welding & Fabrication Corporation sells and services pipe welding equipment in Illinois. The following selected accounts appear in the ledger of Diamondback Welding & Fabrication at the beginning of the current year: Preferred 2% Stock, $175 par (50,000 shares authorized, 25,000 shares issued) Paid-In Capital in Excess of Par-Preferred Stock $4,375,000 875,000 3,750,000 Common Stock, $15 par (600,000 shares authorized, 250,000 shares issued) Paid-In Capital in Excess of Par-Common Stock Retained Earnings 490,000 20,119,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Purchased 36,000 shares of treasury common for $17 per share. b. Sold 18,000 shares of treasury common for $20 per share. c. Issued 13,000 shares of preferred 2% stock at $195. d. Issued 60,000 shares of common stock at $22, receiving cash. e. Sold 12,000 shares of treasury common for $15 per share. f. Declared cash dividends of $3.50 per share on preferred stock and $0.04 per share on common stock. g. Paid the cash dividends. Required: Journalize the entries to record the transactions. If an amount box does not require an entry, leave it blank. a. Treasury Stock Cash b. Cash Treasury Stock Paid-In Capital from Sale of Treasury Stock C. Cash Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock d. Cash Common Stock Paid-In Capital in Excess of Par-Common Stock e. Cash Paid-In Capital from Sale of Treasury Stock Treasury Stock f. Cash Dividends Cash Dividends Payable g. Cash Dividends Payable Cash 612,000 360,000 612,000 2,535,000 2,275,000 260,000 1,320,000 900,000 420,000 180,000 10 10 000