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

Preferred 2% Stock, $50 par (90,000 shares authorized, 45,000 shares issued)	$2,250,000
Paid-In Capital in Excess of ParPreferred Stock	360,000
Common Stock, $10 par (600,000 shares authorized, 310,000 shares issued)	3,100,000
Paid-In Capital in Excess of ParCommon Stock	400,000
Retained Earnings	12,953,000

During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows:

1. Issued 60,000 shares of common stock at $17, receiving cash.
2. Issued 23,000 shares of preferred 2% stock at $65.
3. Purchased 36,000 shares of treasury common for $14 per share.
4. Sold 18,000 shares of treasury common for $17 per share.
5. Sold 12,000 shares of treasury common for $12 per share.
6. Declared cash dividends of $1.00 per share on preferred stock and $0.10 per share on common stock.
7. Paid the cash dividends.

Journalize the entries to record the transactions.

For a compound transaction, if an amount box does not require an entry, leave it blank.

Required:

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a. Issued 60,000 shares of common stock at $17, receiving cash.

blank	CashCommon StockPaid-In Capital from Sale of Treasury StockRetained EarningsTreasury Stock	- Select -	- Select -
	CashCommon StockPaid-In Capital in Excess of Par-Preferred StockRetained EarningsTreasury Stock	- Select -	- Select -
	Paid-In Capital from Sale of Treasury StockPaid-In Capital in Excess of Par-Common StockPaid-In Capital in Excess of Par-Preferred StockRetained EarningsTreasury Stock	- Select -	- Select -

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b. Issued 23,000 shares of preferred 2% stock at $65.

blank	CashPreferred StockPaid-In Capital in Excess of Par-Preferred StockRetained EarningsTreasury Stock	- Select -	- Select -
	CashRetained EarningsPaid-In Capital in Excess of Par-Common StockPreferred StockTreasury Stock	- Select -	- Select -
	CashRetained EarningsPaid-In Capital from Sale of Treasury StockPaid-In Capital in Excess of Par-Preferred StockTreasury Stock	- Select -	- Select -

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c. Purchased 36,000 shares of treasury common for $14 per share.

blank	CashCommon StockPaid-In Capital from Sale of Treasury StockRetained EarningsTreasury Stock	- Select -
	CashCommon StockPaid-In Capital from Sale of Treasury StockRetained EarningsTreasury Stock		- Select -

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d. Sold 18,000 shares of treasury common for $17 per share.

blank	CashCommon StockPaid-In Capital from Sale of Treasury StockRetained EarningsTreasury Stock	- Select -	- Select -
	CashCommon StockPaid-In Capital In Excess of Par Value-Common StockRetained EarningsTreasury Stock	- Select -	- Select -
	CashCommon StockGain from Sale of Treasury StockPaid-In Capital from Sale of Treasury StockRetained Earnings	- Select -	- Select -

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e. Sold 12,000 shares of treasury common for $12 per share.

blank	CashCommon StockPaid-In Capital in Excess of Par Value-Common StockRetained EarningsTreasury Stock	- Select -	- Select -
	Common StockPaid-In Capital from Sale of Treasury StockRetained EarningsTreasury Stock	- Select -	- Select -
	CashCommon StockPaid-In Capital from Sale of Treasury StockRetained EarningsTreasury Stock	- Select -	- Select -

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f. Declared cash dividends of $1.00 per share on preferred stock and $0.10 per share on common stock.

blank	Cash DividendsCash Dividends PayableCashCommon StockTreasury Stock	- Select -
	Cash DividendsCash Dividends PayableCashCommon StockTreasury Stock		- Select -

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g. Paid the cash dividends.

blank	Cash Dividends PayableCash DividendsCashCommon StockTreasury Stock	- Select -
	Cash DividendsCash Dividends PayableCashCommon StockTreasury Stock		- Select -