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, $200 par (60,000 shares authorized, 30,000 shares issued) $6,000,000 Paid-In Capital in Excess of Par-Preferred Stock 960,000 Common Stock, $20 par (800,000 shares authorized, 200,000 shares issued) 4,000,000 Paid-In Capital in Excess of Par-Common Stock 520,000 Retained Earnings 24,338,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Purchased 48,000 shares of treasury common for $22 per share. b. Sold 24,000 shares of treasury common for $25 per share. c. Issued 15,000 shares of preferred 2% stock at $217. 1. Issued 80,000 shares of common stock at $27, receiving cash. . Sold 16,000 shares of treasury common for $20 per share. f. Declared cash dividends of $4.00 per share on preferred stock and $0.08 per share on common stock. 9. 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 000 Treasury Stock Paid-In Capital from Sale of Treasury Stock VC. 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 DO 00 000 000 0OC Paid-In Capital from Sale of Treasury Stock Treasury Stock f. Cash Dividends Cash Dividends Payable 00 00 g. Cash Dividends Payable Cash