Whispering Winds Corporation has been authorized to issue20,000shares of $100par value,10%, preferred stock and1,066,800shares of no-par common stock. The corporation assigned a $2.80stated value to the common stock. At December 31, 2020, the ledger contained the following balances pertaining to stockholders' equity.

Preferred Stock$125,000 Paid-in Capital in Excess of ParPreferred Stock 19,000 Common Stock 1,066,800 Paid-in Capital in Excess of Stated ValueCommon Stock 1,219,200 Treasury Stock (1,120common shares)14,560 Paid-in Capital from Treasury Stock 1,680 Retained Earnings 82,000 Accumulated Other Comprehensive Income 64,000

The preferred stock was issued for land having a fair value of $144,000. All common stock issued was for cash. In November,1,680shares of common stock were purchased for the treasury at a per share cost of $13. In December,560shares of treasury stock were sold for $16per share. No dividends were declared in 2020.

(a)

Prepare the journal entries for the: