The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year:

Journalize the entries to record the following transactions.

a$.$ Issued $80,000$ shares of common stock at $$30$ for cash.

Cash

b$.$ Issued $20,000$ shares of preferred $2\%$ stock at $$89.$

c$.$ Purchased $48,000$ shares of treasury common for $$28$ per share.

d$.$ Sold $24,000$ shares of treasury common for $$31$ per share.

e$.$ Sold $16,000$ shares of treasury common for $$26$ per share.

f$.$ Declared cash dividends of $$1\mathrm{.}50$ per share on preferred stock and $$0\mathrm{.}08$ per share on common stock.

g$.$ Paid the cash dividends.

Dividends Payable

$79,200$

Cash

$79,200$