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 (80,000 shares authorized, 40,000 shares issued)	$4,000,000
Paid-In Capital in Excess of ParPreferred Stock	480,000
Common Stock, $20 par (600,000 shares authorized, 330,000 shares issued)	6,600,000
Paid-In Capital in Excess of ParCommon Stock	860,000
Retained Earnings	25,313,000

During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows:

1. Purchased 36,000 shares of treasury common for $25 per share.
2. Sold 18,000 shares of treasury common for $28 per share.
3. Issued 20,000 shares of preferred 2% stock at $112.
4. Issued 60,000 shares of common stock at $25, receiving cash.
5. Sold 12,000 shares of treasury common for $23 per share.
6. Declared cash dividends of $2.00 per share on preferred stock and $0.10 per share on common stock.
7. Paid the cash dividends.

Required:

Journalize the entries to record the transactions.

If an amount box does not require an entry, leave it blank.

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