The following selected accounts appear in the ledger of Parks Construction inc. at the beginning of the current year. During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as tollows: a. Issued 532,900 shares of common stock at $9, receiving cash. b. Issued 11,000 shares of preferred 1% stock at $58. c. Purchased 45,400 shares of treasury common for $8 per share. d. Sold 21,400 shares of treasury common for $10 per share. e. Sold 4,300 shares of treasury common for $7 per share. 1. Declared cash dividends of $0.50 per share on preferred stock and $0.07 per share on common stock. 9. Paid the cash dividends. Required: Joumalize the entries to record the transactions. CHART OF ACCOUNTS Parks Construction Inc. General Ledger ASSETS REVENUE 110 Cash 410 Sales 120 Accounts Recelvable 610 Interest Revenue 131 Notes Recelvable 132 Interest Receivable EXPENSES 141 Inventory 510 Cost of Goods Sold 145 Office Supplies 515 Credit Card Extense 151 Prepaid Insurance 520 Salaries Expense 181 Land 531 Advertising Expense 193 Equipment 532 Delivery Expense 194 Accumulated Depreciation-Equipment 533 Selling Expenses 534 Rent Expense LIABILITIES 535 Insurance Expense 210 Accounts Payable 536 Office Supplies Expense Chart of Accounts 210 Accounts Payable 536 Office Supplies Expense 221 Notes Payable 537 Organizational Expenses 226 Interest Payable 562 Depreciation Expense-Equipment 231 Cash Dividends Payable 590 Miscellaneous Expense 241 Salaries Payable 710 interest Expense 261 Mortgage Note Payable EQUITY 236 Stock Dividends Distributable 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 Joumalize the entries to record the transactions on December 31 . General Voumal instructions General Journal Dur: oEscription BOST. AEF. DEAiT Cazoit wssts vaeilmes tquirr