The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year Preferred 2% Stock, $75 par (100,000 shares authorized, 80,000 shares Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $8 par (5,000,000 shares authorized, 3,000,000 shares issued) Paid-In Capital in Excess of Par-Common Stock Retained Eanings $6,000,000 420,000 24,000,000 1,850,000 115,400,000 issued) During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows Jan. 5 Issued 400,000 shares of common stock at $11, receiving cash Feb. Mar. May Aug 10 19 16 25 Issued 5,000 shares of preferred 2% stock at S90 Purchased 150,000 shares of treasury common for $10 per share Sold 80,000 shares of treasury common for $13 per share Sold 20,000 shares of treasury common for $9 per share Dec. 6 Declared cash dividends of $1.50 per share on preferred stock and $o 06 per share on common stock 31 Paid the cash dividends Chart of Accounts CHART OF ACCOUNTS Parks Construction Inc. General Ledger ASSETS REVENUE 110 Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Inventory 145 Office Supplies 151 Prepaid Insurance 181 Land 193 Equipment 194 Accumulated Depreciation-Equipment 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 515 Credit Card Expense 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Selling Expenses 534 Rent Expense Chart of Accounts 710 Interest Expense 236 Stock Dividends Distributable 241 Salaries Payable 261 Mortgage Note Payable EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Paid-In Capital from Sale of Treasury Stock 340 Retained Earnings 351 Cash Dividends 352 Stock Dividends 390 Income Summary Journal Journalize the entries to record the transactions. Refer to the Chart of Accounts for exact wording of account titles JOURNAL DATE DESCRIPTION POST. REF DEBIT CREDIT Journal 16 17 18