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 (80,000 shares authorized, 40,000 shares issued) $4,000,000 Paid-In Capital in Excess of Par-Preferred Stock 640,000 Common Stock, $20 par (800,000 shares authorized, 290,000 shares issued) 5,800,000 Paid-In Capital in Excess of Par-Common Stock 750,000 Retained Earnings 23,723,000 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 $23, receiving cash. b. Issued 20,000 shares of preferred 2% stock at $113. c. Purchased 48,000 shares of treasury common for $24 per share. d. Sold 24,000 shares of treasury common for $27 per share. e. Sold 16,000 shares of treasury common for $22 per share. f. Declared cash dividends of $2.00 per share on preferred stock and $0.08 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 $23, receiving cash. b. Issued 20,000 shares of preferred 2% stock at $113. 9 c. Purchased 48,000 shares of treasury common for $24 per share.. d. Sold 24,000 shares of treasury common for $27 per share. e. Sold 16,000 shares of treasury common for $22 per share. f. Declared cash dividends of $2 per share on preferred stock and $0.08 per share on common stock. g. Paid the cash dividends