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, $100 par (70,000 shares authorized, 35,000 shares issued) $3,500,000 700,000 5,000,000 650,000 20,882,000 Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $20 par (800,000 shares authorized, 250,000 shares issued) Paid-In Capital in Excess of Par-Common Stock Retained Earnings 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 $24, receiving cash b. Issued 18,000 shares of preferred 2% stock at $114 C. Purchased 48,000 shares of treasury common for $23 per share d. Sold 24,000 shares of treasury common for $26 per share e. Sold 16,000 shares of treasury common for $21 per share f. Declared cash dividends of $2.00 per share on preferred stock and $0.04 per share on common stock. g. Paid the cash dividends ournalize 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 80,000 shares of common stock at $24, receiving cash