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, $100 par (30,000 shares authorized, 15,000 shares issued)	$1,500,000
Paid-In Capital in Excess of ParPreferred Stock	180,000
Common Stock, $10 par (700,000 shares authorized, 280,000 shares issued)	2,800,000
Paid-In Capital in Excess of ParCommon Stock	360,000
Retained Earnings	10,261,000

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

Purchased 42,000 shares of treasury common for $14 per share.

Sold 21,000 shares of treasury common for $17 per share.

Issued 8,000 shares of preferred 2% stock at $115.

Issued 70,000 shares of common stock at $13, receiving cash.

Sold 14,000 shares of treasury common for $12 per share.

Declared cash dividends of $2.00 per share on preferred stock and $0.10 per share on common stock.

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 Stock	- Select -	- Select -
	CashCommon StockPaid-In Capital from Sale of Treasury StockRetained EarningsTreasury Stock	- Select -	- Select -
b.	CashCommon StockPaid-In Capital from Sale of Treasury StockRetained EarningsTreasury Stock	- Select -	- Select -
	CashCommon StockPaid-In Capital in Excess of Par-Preferred StockRetained EarningsTreasury Stock	- Select -	- Select -
	CashCommon StockPreferred StockPaid-In Capital from Sale of Treasury StockRetained Earnings	- Select -	- Select -
c.	CashCommon StockPaid-In Capital from Sale of Treasury StockRetained EarningsTreasury Stock	- Select -	- Select -
	CashCommon StockPaid-In Capital from Sale of Treasury StockRetained EarningsPreferred Stock	- Select -	- Select -
	CashCommon StockPaid-In Capital in Excess of Par-Preferred StockRetained EarningsTreasury Stock	- Select -	- Select -
d.	CashCommon StockPaid-In Capital from Sale of Treasury StockRetained EarningsTreasury Stock	- Select -	- Select -
	CashCommon StockPaid-In Capital from Sale of Treasury StockRetained EarningsTreasury Stock	- Select -	- Select -
	CashPreferred StockPaid-In Capital in Excess of Par-Common StockRetained EarningsTreasury Stock	- Select -	- Select -
e.	CashCommon StockPaid-In Capital in Excess of Par-Preferred StockRetained EarningsTreasury Stock	- Select -	- Select -
	Cash DividendsCommon StockPaid-In Capital from Sale of Treasury StockRetained EarningsTreasury Stock	- Select -	- Select -
	CashCommon StockPaid-In Capital from Sale of Treasury StockRetained EarningsTreasury Stock	- Select -	- Select -
f.	CashCash Dividends PayableCash DividendsCommon StockTreasury Stock	- Select -	- Select -
	CashCash Dividends PayableCash DividendsCommon StockTreasury Stock	- Select -	- Select -
g.	CashCash Dividends PayableCash DividendsCommon StockTreasury Stock	- Select -	- Select -
	CashCash Dividends PayableCash DividendsCommon StockTreasury Stock	- Select -	- Select -