Selected Stock Transactions The following selected accounts appear in the ledger of Upscale Construction Inc. at the beginning of the current year: Preferred 2% Stock, $100 par (90,000 shares authorized, 45,000 shares issued) $4,500,000 Paid-In Capital in Excess of Par-Preferred Stock 540,000 Common Stock $20 par (500,000 shares authorized, 290,000 shares issued) 5,800,000 Paid-In Capital in Excess of Par-Common Stock 750,000 Retained Earnings 24,571,000 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 $25, receiving cash. b. Issued 23,000 shares of preferred 2% stock at $114. C. Purchased 30,000 shares of treasury common for 521 per share. d. Sold 15,000 shares of treasury common for $24 per share. e. Sold 10,000 shares of treasury common for $19 per share. f. Declared cash dividends of $2.00 per share on preferred stock and $0.06 per share on common stock. 9. Paid the cash dividends. Required: Journalize the entries to record the transactions. If an amount box does not require an entry, leave it blank. a. Issued 50,000 shares of common stock at 525, receiving cash. b. Issued 23,000 shares of preferred 2% stock at 5114. C. Purchased 30,000 shares of treasury common for $21 per share. d. Sold 15,000 shares of treasury common for $24 per share. e. Sold 10,000 shares of treasury common for $19 per share. f. Declared cash dividends of $2.00 per share on preferred stock and $0.05 per share on common stock. g. Paid the cash dividends