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, $100 par (40,000 shares authorized, 20,000 shares issued) Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $20 par (500,000 shares authorized, 230,000 shares issued) $2,000,000 400,000 4,600,000 Paid-In Capital in Excess of Par-Common Stock Retained Earnings 600,000 16,112,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Purchased 30,000 shares of treasury common for $23 per share. b. Sold 15,000 shares of treasury common for $26 per share. c. Issued 10,000 shares of preferred 2% stock at $120. d. Issued 50,000 shares of common stock at $26, receiving cash. e. Sold 10,000 shares of treasury common for $21 per share. f. Declared cash dividends of $2.00 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 690,000 690,000