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, s200 par (70,000 shares authorized, 35,000 shares issued) $7,000,000 Paid-In Capital in excess of Par-Preferred Stock 1,400,000 Common Stock, $10 par (500,000 shares authorized, 220,000 shares issued) 2,200,000 Paid-in Capital in excess of Par--Common Stock 290,000 Retained Earnings 23,087,000 During the year, the corporation completed a number of transactions affecting the stockholders' equiry. They are summarized as follows: 1. Issued 50,000 shares of common stock at $16, receiving cash. b. Issued 10,000 shares of preferred 29 stock at $218 c. Purchased 30,000 shares of treasury common for $14 per share d. Sold 15,000 shares of treasury common for $17 por share 6. Sold 10,000 shares of treasury common for 512 per share. 1. Declared cash dividends of $4.00 per share on preferred stock and $0.04 per share on common stock 9. Pald the cash dividends Required: Journalize the entries to record the transaction. If an amount box does not require an entry leave it blank, und 60,000 shares of common stock at $26, receiving cath 00 ID b. Issued 18,000 shares of preferred 2% stock at $218. c. Purchased 30,000 shares of treasury common for $14 per share. d. Sold 15,000 shares of treasury common for 517 per share 99 e. Sold 10,000 shares of treasury common for $12 per share. 3 Il f. Declared cash dividends of $4.00 per share on preferred stock and $0.04 per share on common stock, 88 9. Paid the cash dividends