Treasury Stock Retained Earnings Paid-In Capital in Excess of Par-C/S Paid-In capital from the Sale of Treasury Stock 125,000 4,350,000 42,000 Crews Corporation was organized on January 1st of the current year, with an authorization of 20,000 shares of preferred 4% stock, $12 par, and 100,000 shares of $3 par common stock. Journalize the following selected transactions completed during the first year of operations: 3. Jan. 30 Issued 15,000 shares of common stock at $21 per share for cash. Feb. 24. Issued 20,000 shares of common stock in exchange for land, buildings, and equipment with fair market values of $55,000, $120,000, and $45.000 respectively. Issued 2,000 shares of preferred stock at $54 for cash. Mar. 15 4. Journalize the entries to record the following transactions for Underwater Services, Inc.: June 30 . July 15 Aug. 10 Issued 1,000 shares of $10 par common stock at $50 for cash. Purchased 100 shares of treasury stock at $25. Sold 100 shares of treasury stock at $28