Stock transaction for corporate expansion Pulsar Optics produces medical lasers for use in hospitals. The accounts and their balances appear in the ledger of Pulsar Optics on April 30 of the current year as follows: Preferred 1% Stock, $75 par (300,000 shares authorized, 90,000 shares issued) Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $100 par (900,000 shares authorized, 320,000 shares issued) Paid-In Capital in Excess of Par-Common Stock Retained Earnings At the annual stockholders' meeting on August 5, the board of directors presented a plan for modernizing and expanding plant operations at a cost of approximately $20,000,000. The plan provided (a) that the corporation borrow $6,400,000 (b) that $65,000 shares of the unissued preferred stock be issued through an underwriter, and (c) that a building, valued at 3,400,000 and the land on which it is located, valued at 5,000,000 be acquired in accordance with preliminary negotiations by the issuance of 80,000. shares of common stock. The plan was approved by the stockholders and accomplished by the following transactions: Oct. 9. Borrowed $6,400,000 from St. Peter City Bank, giving a 4% mortgage note. Oct. 17. Issued 65,000 shares of preferred stock, receiving $80 per share in cash. Oct. 28. Issued 80,000 shares of common stock in exchange for land and a building, according to the plan. Required: Journalize the entries to record the October transactions. If an amount box does not require an entry, leave it blank. Oct. 9 $6,750,000 1,350,000 32,000,000 2,560,000 64,000,000 Cash Mortgage Note Payable

brock transaction for colporite expanson stock. The plan was appraved by the stocktolders and accomplished by the following transactions: Oct 9. Darrowed $5,400,000 from St, Peter City Eark, givng a 4\% moetgage note. Oct. 17. Issued 65,000 shares of preferred stock, receving 580 per share in cash. Oct. 28. Issued B0,000 stares ot common stock in exchanpe for land and a bulking, secorisng to the plan. stork The plan was anproved toy the stockholders and nocomplathed by the falfowing transsctions: Oct, 9. Aorrowed \$6,400,000 from 5t. Peter Oty Dank, giving a 4\% mortgage note. Oct, 17. Issued 65,000 stares of preferred stock, receiving $80 per share in cash. Oct. 28 . Issued 80,000 shares of common stock in exchange for land and a bulding, according to the plan. Required: Joarnalize the entries to record the October transections, If an amount bax does not require an entry, lesve it blank