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, $50 par (30,000 shares authorized, 15,000 shares issued) $750,000 Paid-In Capital in Excess of Par-Preferred Stock 150,000 Common Stock, $20 par (500,000 shares authorized, 290,000 shares issued) 5,800,000 Paid-In Capital in Excess of Par-Common Stock 750,000 Retained Earnings 15,794,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 50,000 shares of common stock at $25, receiving cash. b. Issued 8,000 shares of preferred 2% stock at $65. c. Purchased 30,000 shares of treasury common for $23 per share. d. Sold 15,000 shares of treasury common for $26 per share. e. Sold 10,000 shares of treasury common for $21 per share. f. Declared cash dividends of $1.00 per share on preferred stock and $0.06 per share on common stock. 9. Paid the cash dividends. Required: Joumalize 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 $25, receiving cash. b. Issued 8,000 shares of preferred 2% stock at $65. C. Purchased 30,000 shares of treasury common for $23 per share.. d. Sold 15,000 shares of treasury common for $26 per share e. Sold 10,000 shares of treasury common for $21 per share 1. Declared cash dividends of $1 per share on preferred stock and 50.06 per share on common stock