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, $75 par (50,000 shares authorized, 25,000 shares issued) $1,875,000 Paid-In Capital in Excess of ParPreferred Stock 225,000 Common Stock, $25 par (500,000 shares authorized, 260,000 shares issued) 6,500,000 Paid-In Capital in Excess of ParCommon Stock 850,000 Retained Earnings 20,034,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: . Issued 50,000 shares of common stock at $30, receiving cash. . Issued 13,000 shares of preferred 2% stock at $92. . Purchased 30,000 shares of treasury common for $28 per share. . Sold 15,000 shares of treasury common for $31 per share. Sold 10,000 shares of treasury common for $26 per share. . Declared cash dividends of $1.50 per share on preferred stock and $0.04 per share on common stock. . Paid the cash dividends. lO-annU'm 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 $30, receiving cash. did m