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 (70,000 shares authorized, 35,000 shares issued) $2,625,000 Paid-In Capital in Excess of Par-Preferred Stock 420,000 Common Stock, $10 par (600,000 shares authorized, 270,000 shares issued) 2,700,000 Paid-In Capital in Excess of Par-Common Stock 350,000 Retained Earnings 12,921,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 60,000 shares of common stock at $17, receiving cash. b. Issued 18,000 shares of preferred 2% stock at $91. C. Purchased 36,000 shares of treasury common for $12 per share. d. Sold 18,000 shares of treasury common for $15 per share. e. Sold 12,000 shares of treasury common for $10 per share. f. Declared cash dividends of $1.50 per share on preferred stock and $0.10 per share on common stock. 9. Paid 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 60,000 shares of common stock at $17, receiving cash. Cash Common Stock Paid-In Capital in Excess of Par-Common Stock b. Issued 18,000 shares of preferred 2% stock at $91. Cash Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock c. Purchased 36,000 shares of treasury common for $12 per share. Treasury Stock Cash d. Sold 18,000 shares of treasury common for $15 per share. Cash Treasury Stock Paid-In Capital from Sale of Treasury Stock e. Sold 12,000 shares of treasury common for $10 per share. Cash Paid-In Capital from Sale of Treasury Stock Treasury Stock f. Declared cash dividends of $1.50 per share on preferred stock and $0.10 per share on common stock. Cash Dividends Cash Dividends Payable g. Paid the cash dividends. Cash Dividends Payable Cash