Selected Stock Transactions Diamondback Welding & Fabrication Corporation sells and services pipe welding equipment in Tlinois. The following selected accounts appear in the ledger or Diamondback Welding & Fabrication at the beginning of the current year: Preferred 2% Stock, $50 par (70,000 shares authorized, 35,000 shares issued) $1,750,000 Paid-In Capital in Excess of Par-Preferred Stock 350,000 Common Stock, $20 par (700,000 shares authorized, 250,000 shares issued) 5,000,000 Pald-In Capital in Excess of Par-Common Stock 650,000 Retained Earnings 16,430,000 During the year, the corporation completed a number of transactions affecting the stockholders equity. They are summarized as follows: 0. Purchased 42,000 shares of treasury common for $22 per share. b. Sold 21,000 shares of treasury common for $25 per share. C. Issued 18,000 shares of preferred 2% stock at $68. d. Issued 70,000 shares of common stock at $25, receiving cash. e. Sold 14,000 shares of treasury common for $20 per share, f. Declared cash dividends of $1.00 per share on preferred stock and $0.08 per share on common stock. g. Paid the cash dividends. Required: Journalize the entries to record the transactions. ir an amount box does not require an entry, leave it blank a. Treasury Stock 924,000 Cash 924,000 b. Cash 525,000 Treasury Stock 462,000 Pald-In Capital from Sale of Treasury Stock 63,000 C Cash 1,224,000 Preferred Stock 900,000 Pald-In Capital In Excess of Par-Preferred Stock 324,000 d. Cash 1,750,000 Common Stock 1,400,000 Pald-In Capital in Excess of Par-Common Stock 350,000 e. Cash 280,000 e Cash 280,000 T. In 9