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, $50 par (40,000 shares authorized, 20,000 shares issued) Pald-In Capital In Excess of Par-Preferred Stock Common Stock, $25 par (500,000 shares authorized, 270,000 shares issued) $1,000,000 120,000 6,750,000 Paid-In Capital in Excess of Par-Common Stock Retained Earnings 880,000 18,550,000 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 $29, receiving cash. b. Issued 10,000 shares of preferred 2% stock at $70. c. Purchased 30,000 shares of treasury common for $30 per share. d. Sold 15,000 shares of treasury common for $33 per share. e. Sold 10,000 shares of treasury common for $28 per share. f. Declared cash dividends of $1.00 per share on preferred stock and $0.04 per share on common stock. g. Pald the cash dividends. Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. Required: a. Issued 50,000 shares of common stock at $29, receiving cash.