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 (50,000 shares authorized, 25,000 shares issued) $2,500,000 Paid-In Capital in Excess of ParPreferred Stock 500,000 Common Stock, $10 par (600,000 shares authorized, 290,000 shares issued) 2,900,000 Paid-In Capital in Excess of ParCommon Stock 380,000 Retained Earnings 13,314,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: Issued 60,000 shares of common stock at $14, receiving cash. Issued 13,000 shares of preferred 2% stock at $119. Purchased 36,000 shares of treasury common for $12 per share. Sold 18,000 shares of treasury common for $15 per share. Sold 12,000 shares of treasury common for $10 per share. Declared cash dividends of $2.00 per share on preferred stock and $0.04 per share on common stock. Paid the cash dividends. Required: Journalize the entries to record the transactions. If an amount box does not require an entry, leave it blank. Question Content Area a. Issued 60,000 shares of common stock at $14, receiving cash. blank - Select - - Select -

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- Select - - Select - Question Content Area b. Issued 13,000 shares of preferred 2% stock at $119. blank - Select - - Select -

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- Select - - Select - Question Content Area c. Purchased 36,000 shares of treasury common for $12 per share. blank - Select - - Select -

- Select - - Select - Question Content Area d. Sold 18,000 shares of treasury common for $15 per share. blank - Select - - Select -

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- Select - - Select - Question Content Area e. Sold 12,000 shares of treasury common for $10 per share. blank - Select - - Select -

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- Select - - Select - Question Content Area f. Declared cash dividends of $2.00 per share on preferred stock and $0.04 per share on common stock. blank - Select - - Select -

- Select - - Select - Question Content Area g. Paid the cash dividends. blank - Select - - Select -

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