Sun Corporation received a charter that authorized the issuance of 112,000 shares of $6 par common stock and 19,000 shares of $125 par, 8 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation. Year 1

January 5	Sold 16,800 shares of the $6 par common stock for $8 per share.
January 12	Sold 1,900 shares of the 8 percent preferred stock for $135 per share.
April 5	Sold 22,400 shares of the $6 par common stock for $10 per share.
December 31	During the year, earned $317,300 in cash revenue and paid $240,200 for cash operating expenses.
December 31	Declared the cash dividend on the outstanding shares of preferred stock for Year 1. The dividend will be paid on February 15 to stockholders of record on January 10, Year 2.
December 31	Closed the revenue, expense, and dividend accounts to the retained earnings account.

Year 2

February 15	Paid the cash dividend declared on December 31, Year 1.
March 3	Sold 2,850 shares of the $125 par preferred stock for $145 per share.
May 5	Purchased 500 shares of the common stock as treasury stock at $12 per share.
December 31	During the year, earned $245,500 in cash revenues and paid $176,800 for cash operating expenses.
December 31	Declared the annual dividend on the preferred stock and a $0.75 per share dividend on the common stock.
December 31	Closed revenue, expense, and dividend accounts to the retained earnings account.

a. Prepare journal entries for these transactions for Year 1 and Year 2 and post them to T-accounts.