SwiftyCorporation is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock.

Feb.1 Issued22,500shares for cash at $56per share.

July.1 Issued13,500shares for cash at $60per share.

Journalize the transactions.(Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date Account Titles and Explanation Debit Credit

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