Tran Corporation is authorized to issue both preferred and common stock. The par value of the preferred is $48. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock.

Feb.	1		Issued 21,500 shares for cash at $57 per share.
July	1		Issued 11,500 shares for cash at $61 per share.

Jounalize the transactions

Post to the stockholders equity accounts. (Post entries in the order of journal entries presented in the previous part.)