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:

Line Item Description	Amount
Preferred 2% Stock, $175 par (50,000 shares authorized, 25,000 shares issued)	$4,375,000
Paid-In Capital in Excess of ParPreferred Stock	525,000
Common Stock, $25 par (800,000 shares authorized, 280,000 shares issued)	7,000,000
Paid-In Capital in Excess of ParCommon Stock	910,000
Retained Earnings	27,157,000

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

1. Purchased 48,000 shares of treasury common for $27 per share.
2. Sold 24,000 shares of treasury common for $30 per share.
3. Issued 13,000 shares of preferred 2% stock at $192.
4. Issued 80,000 shares of common stock at $30, receiving cash.
5. Sold 16,000 shares of treasury common for $25 per share.
6. Declared cash dividends of $3.50 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.

Transaction	Account	Debit	Credit
a.	CashCommon StockPaid-In Capital from Sale of Treasury StockRetained EarningsTreasury StockTreasury Stock
	CashCommon StockPaid-In Capital from Sale of Treasury StockRetained EarningsTreasury StockCash
b.	CashCommon StockPaid-In Capital from Sale of Treasury StockRetained EarningsTreasury StockCash
	CashCommon StockPaid-In Capital in Excess of Par-Preferred StockRetained EarningsTreasury StockTreasury Stock
	CashCommon StockPreferred StockPaid-In Capital from Sale of Treasury StockRetained EarningsPaid-In Capital from Sale of Treasury Stock
c.	CashCommon StockPaid-In Capital from Sale of Treasury StockRetained EarningsTreasury StockCash
	CashCommon StockPaid-In Capital from Sale of Treasury StockRetained EarningsPreferred StockPreferred Stock
	CashCommon StockPaid-In Capital in Excess of Par-Preferred StockRetained EarningsTreasury StockPaid-In Capital in Excess of Par-Preferred Stock
d.	CashCommon StockPaid-In Capital from Sale of Treasury StockRetained EarningsTreasury StockCash
	CashCommon StockPaid-In Capital from Sale of Treasury StockRetained EarningsTreasury StockCommon Stock
	CashPreferred StockPaid-In Capital in Excess of Par-Common StockRetained EarningsTreasury StockPaid-In Capital in Excess of Par-Common Stock
e.	CashCommon StockPaid-In Capital in Excess of Par-Preferred StockRetained EarningsTreasury StockCash
	Cash DividendsCommon StockPaid-In Capital from Sale of Treasury StockRetained EarningsTreasury StockPaid-In Capital from Sale of Treasury Stock
	CashCommon StockPaid-In Capital from Sale of Treasury StockRetained EarningsTreasury StockTreasury Stock
f.	CashCash Dividends PayableCash DividendsCommon StockTreasury StockCash Dividends
	CashCash Dividends PayableCash DividendsCommon StockTreasury StockCash Dividends Payable
g.	CashCash Dividends PayableCash DividendsCommon StockTreasury StockCash Dividends Payable
	CashCash Dividends PayableCash DividendsCommon StockTreasury StockCash