The following selected accounts appear in the ledger of Upscale Construction Inc. at the beginning of the current year: Preferred 2% Stock, $175 par (80,000 shares authorized, 40,000 shares issued) Paid-In Capital in Excess of Par-Preferred Stock $7,000,000 Common Stock, $10 par (600,000 shares authorized, 250,000 shares issued) Paid-In Capital in Excess of Par-Common Stock Retained Earnings 840,000 2,500,000 330,000 22,620,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 60,000 shares of common stock at $16, receiving cash. b. Issued 20,000 shares of preferred 2% stock at $192. c. Purchased 36,000 shares of treasury common for $12 per share. d. Sold 18,000 shares of treasury common for $15 per share. e. Sold 12,000 shares of treasury common for $10 per share. f. Declared cash dividends of $3.50 per share on preferred stock and $0.08 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 60,000 shares of common stock at $16, receiving cash.