The following selected accounts appear in the ledger of Upscale Construction Inc. at the beginning of the current year: Preferred 2% Stock, $175 par (50,000 shares authorized, 25,000 shares issued) Paid-In Capital in Excess of Par-Preferred Stock $4,375,000 Common Stock, $25 par (700,000 shares authorized, 230,000 shares issued) Paid-In Capital in Excess of Par-Common Stock Retained Earnings 875,000 5,750,000 750,000 24,910,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 70,000 shares of common stock at $31, receiving cash. b. Issued 13,000 shares of preferred 2% stock at $187. c. Purchased 42,000 shares of treasury common for $28 per share. d. Sold 21,000 shares of treasury common for $31 per share. e. Sold 14,000 shares of treasury common for $26 per share. f. Declared cash dividends of $3.50 per share on preferred stock and $0.06 per share on common stock. g. Paid the cash dividends. Required: Journalize the entries to record the transactions. If an amount box does not require an entry, leave it blank. a. Issued 70,000 shares of common stock at $31, receiving cash. b. Issued 13,000 shares of preferred 2% stock at $187. c. Purchased 42,000 shares of treasury common for $28 per share. d. Sold 21,000 shares of treasury common for $31 per share. e. Sold 14,000 shares of treasury common for $26 per share. f. Declared cash dividends of $3.50 per share on preferred stock and $0.06 per share on common stock. g. Paid the cash dividends.