URCES Grouper Corp. recently hired a new accountant with extensive experience in accounting for partnerships. Because of the pressure of the new job, the accountant was pter unable to review what he had learned earlier about corporation accounting. During the first month, he made the following entries for the corporation's capital stock. May 2 Cash 99,400 Capital Stock 99,400 (Issued 7,100 shares of $10 par value common stock at $14 per share) 10 Cash 594,000 Capital Stock 594,000 (Issued 11,000 shares of $18 par value preferred stock at $54 per share) 15 Capital Stock Cash 10,440 tudy 10,440 (Purchased 870 shares of common stock for the treasury at $12 per share) On the basis of the explanation for each entry, prepare the entries that should have been made for the capital stock transactions. (Record journal 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 tities and enter O for the amounts.) Debit Date Account Titles and Explanation May 2 Cash Credit Stock Paid-in Capital in Excess of Par Value-Common Stock May 10 Cash Preferred Stock Date Account Titles and Explanation Debit Credit May 2 Cash n Stock Paid-in Capital in Excess of Par Value-Common Stock May 10 Cas ferred Stock Paid-in Capital in Excess of Par Value-Preferred Stock May 15Treasury Stock Cash Click if you would like to Show Work for this question: Open Show Work