structions Chart of Accounts Journal tructions December 1 of the current year, the following accounts and their balances appear in the ledger of Latte Corp, a coffee processer Preferred 2% Stock, 550 par (250,000 shares authorized, 77.000 shares issued) Paid-in Captal in Excess of Eat-Cock Common Stock $35 per (1.000.000 shares authorized, 410,000 shares issued) Paid-in Capital in Excess of Par-Common Stock Retained Earrings $3.850.000 010,000 14,000,000 1.676,000 100.700.000 me annual stables meeting on March 31. the board of directors presented a plan for modernizing and expanding plant operations at a cost of approximately $11,000,000. The plan provided (a) that a buliding, valued at $3,422,000 and m which is located valued at $1.570.000. be acquired in accordance with preliminary negotiations by the issuance of 120.000 shares of gtis at. ) that 41.800 shares of the unissued greferred stock be asued through an underwriter the corporation borrow 54.400.000. The plan was approved by the stockholders and accomplished by the following transactions May 11 20 Issued 128,000 shares of common stock in exchange for land and a building, according to the plan issued 41 500 shares of preferred stock, receiving $55 per share in cash 21 Gamond 14.450.000 from Laurel National, giving a 0% mangage nate halice She entries to record the tlay transactions Wafer to the Chart of Accounts for asact wording of account thes