Selected Stock Transactions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 2% Stock, $150 par (50,000 shares authorized, 25,000 shares issued) Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $25 par (500,000 shares authorized, 300,000 shares issued) Paid-In Capital in Excess of Par-Common Stock Retained Earnings $3,750,000 600,000 7,500,000 980,000 27,200,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 50,000 shares of common stock at $31, receiving cash. b. Issued 13,000 shares of preferred 2% stock at $169. c. Purchased 30,000 shares of treasury common for $27 per share. d. Sold 15,000 shares of treasury common for $30 per share. e. Sold 10,000 shares of treasury common for $25 per share. f. Declared cash dividends of $3.00 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. For a compound transaction, if an amount box does not require an entry, leave it blank. a. Issued 50,000 shares of common stock at $31, receiving cash.