Study Problem 13-2B on page 668. Prepare a journal entry to record the stock transaction on October 28.

PR 13-2B Stock transaction for corporate expalisio Pulsar 08.3 Optics produces medical lasers for use in hospitals. The accounts ces appear in the ledger of Pulsar Optics on April 30 of the curr Preferred 1% Stock, $ 120 par (300,000 shares authorized, $4,320,000 180,000 36,000 shares issued) Paid-in Capital in Excess of Par-Preferred Stock . . Common Stock, $15 par (2,000,000 shares authorized . .. . . . . . . . . . . . 21,000,000 3,500,000 78,000,000 1,400,000 shares issued). paid-In Capital in Excessof Par-Common Stoc At the annual stockholders' meeting on August 5, the board of directors presen plan for modernizing and expanding plant operations at a cost of The plan provided (a) that the corporation borrow $1,500,000, (b) that 20,000 sha the unissued preferred stock be issued through an underwriter, and (c) that a valued at $4,150,000, and the land on which it is located, valued at $800,000, be a in accordance with preliminary negotiations by the issuance of 300,000 shares mon stock valued at $16.50 per share. The plan was approved by the stockhold approximately $9,000 ,000 shares of com- ers and complished by the following transactions: Oct. 9, Borrowed $1,500,000 from St. Peter City Bank, giving a 4% mortgage note. 17. Issued 20,000 shares of preferred stock, receiving $126 per share in cash 000 shares of common stock in exchange for land and a building according to the plan. Instructions Journalize the entries to record the October transactions