The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of the current fiscal year: Preferred 1% Stock, $50 par (100,000 shares authorized, 80,000 shares issued) $4,000,000 Paid-In Capital in Excess of ParPreferred Stock 175,000 Common Stock, $3 par (5,000,000 shares authorized, 2,000,000 shares issued) 6,000,000 Paid-In Capital in Excess of ParCommon Stock 1,500,000 Retained Earnings 32,350,000 During the year, the corporation completed a number of transactions affecting the stockholders equity. They are summarized as follows: Jan. 5 Issued 500,000 shares of common stock at $8, receiving cash. Feb. 10 Issued 10,000 shares of preferred 1% stock at $60. Mar. 19 Purchased 50,000 shares of treasury common for $7 per share. May 16 Sold 20,000 shares of treasury common for $9 per share. Aug. 25 Sold 5,000 shares of treasury common for $6 per share. Dec. 6 Declared cash dividends of $0.50 per share on preferred stock and $0.08 per share on common stock. 31 Paid the cash dividends. Journalize the entries to record the transactions