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, $75 par (40,000 shares authorized, 20,000 shares issued) $1,500,000 Paid-In Capital in Excess of Par-Preferred Stock 180,000 Common Stock, $10 par (700,000 shares authorized, 300,000 shares issued) 3,000,000 Paid-In Capital in Excess of Par-Common Stock 390,000 Retained Earnings 10,748,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Purchased 42,000 shares of treasury common for $15 per share. b. Sold 21,000 shares of treasury common for $18 per share. c. Issued 10,000 shares of preferred 2% stock at $91. d. Issued 70,000 shares of common stock at $17, receiving cash. e. Sold 14,000 shares of treasury common for $13 per share. f. Declared cash dividends of $1.50 per share on preferred stock and $0.06 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. Required: Journalize the entries to record the transactions. If an amount box does not require an entry, leave it blank. a. Treasury Stock 0 0 630,000 0 Cash 630,000 b. Cash 378,000 0 0 Treasury Stock 0 315,000 Paid-In Capital from Sale of Treasury Stock 0 63,000 C. Cash 910,000 0 Preferred Stock 0 750,000 Paid-In Capital in Excess of Par-Preferred Stock 160,000 d. Cash 1,190,000 0 Common Stock 0 700,000 Paid-In Capital in Excess of Par-Common Stock 0 490,000 e. Cash 182,000 0 0 Paid-In Capital from Sale of Treasury Stock - 28,000 0 Treasury Stock 0 210,000 f. Cash Dividends 3,318,000 X 0 Cash Dividends Payable 0 g. Cash Dividends Payable 0 Cash 0