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, $125 par (50,000 shares authorized, 25,000 shares issued) $3,125,000 Pald-in Capital in Excess of Par-Preferred Stock 625,000 Common Stock, $10 par (800,000 shares authorized, 210,000 shares issued) 2,100,000 Pald-In Capital in Excess of Par-Common Stock 270,000 Retained Earnings 12,974,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 80,000 shares of common stock at $13, receiving cash b. Issued 13,000 shares of preferred 2% stock at $141. C. Purchased 48,000 shares of treasury common for $12 per share. d. Sold 24,000 shares of treasury common for $15 per share. e. Sold 16,000 shares of treasury common for $10 per share. 1. Declared cash dividends of $2.50 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 For a compound transaction, if an amount box does not require an entry leave it blank a. Issued 80,000 shares of common stock at $13, receiving cash Cash a. Issued 80,000 shares of common stock at $13, receiving cash. Cash Common Stock Paid-In Capital in Excess of Par-Common Stock PE b. Issued 13,000 shares of preferred 2% stock at $141. c. Purchased 48,000 shares of treasury common for $12 per share. d. Sold 24,000 shares of treasury common for $15 per share. e. Sold 16,000 shares of treasury common for $10 per share d. Sold 24,000 shares of treasury common for $15 per share. e. Sold 16,000 shares of treasury common for $10 per share.