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 (90,000 shares authorized, 45,000 shares issued) $3,375,000 Paid-In Capital in Excess of ParPreferred Stock 405,000 Common Stock, $10 par (500,000 shares authorized, 230,000 shares issued) 2,300,000 Paid-In Capital in Excess of ParCommon Stock 300,000 Retained Earnings 13,526,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: Issued 50,000 shares of common stock at $16, receiving cash. Issued 23,000 shares of preferred 2% stock at $94. Purchased 30,000 shares of treasury common for $13 per share. Sold 15,000 shares of treasury common for $16 per share. Sold 10,000 shares of treasury common for $11 per share. Declared cash dividends of $1.50 per share on preferred stock and $0.08 per share on common stock. 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 50,000 shares of common stock at $16, receiving cash. b. Issued 23,000 shares of preferred 2% stock at $94. c. Purchased 30,000 shares of treasury common for $13 per share.. d. Sold 15,000 shares of treasury common for $16 per share. e. Sold 10,000 shares of treasury common for $11 per share. f. Declared cash dividends of $1.5 per share on preferred stock and $0.08 per share on common stock. g. Paid the cash dividends.