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 $4,375,000 700,000 Common Stock, $10 par (500,000 shares authorized, 190,000 shares issued) 1,900,000 Paid-In Capital in Excess of Par-Common Stock 250,000 Retained Earnings 15,317,000 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 $14 per share. b. Sold 15,000 shares of treasury common for $17 per share. c. Issued 13,000 shares of preferred 2% stock at $195. d. Issued 50,000 shares of common stock at $16, receiving cash. e. Sold 10,000 shares of treasury common for $12 per share. f. Declared cash dividends of $3.50 per share on preferred stock and $0.10 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 420,000 Cash 420,000 b. Cash 255,000 Treasury Stock 210,000 Paid-In Capital from Sale of Treasury Stock- 45,000 Preferred Stock 2.275.000 Paid-In Capital in Excess of Par-Preferred Stock 260,000 Common Stock 500,000 Paid-In Capital in Excess of Par-Common Stock 300,000 e. Cash Paid-In Capital from Sale of Treasury Stock Treasury Stock 140,000 f. Cash Dividends Cash Dividends Payable 95,300 X 9. Cash Dividends Payable Cash 95,300 X C. Cash d. Cash 2,335,000 300,000 120,000 95,300 X 95,300 X