Tran Corporation is authorized to issue both preferred and common stock. The par value of the preferred is $49. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock.

Feb. 1 Issued 18,000 shares for cash at $56 per share July 1 Issued 13,000 shares for cash at $60 per share. Journalize the transactions. (Recordjournal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERCISE Post to the stockholders' equity accounts. (Post entries in the order of journal entries presented in the previous part) Preferred Stock Debit Date Explanation Ref. Credit Balance Paid-in Capital in Excess of Par-Preferred Stock Date Explanation Ref. Debit Credit Balance