Your answer is partially correct. Sunland Company had these transactions during the current period. June 12 Issued 84,000 shares of $1 par value common stock for cash of $315,000. July 11 Issued 4,000 shares of $105 par value preferred stock for cash at $113 per share. Nov. 28 Purchased 3,100 shares of treasury stock for $7,700. Prepare the journal entries for the Sunland Company transactions shown above. (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 titles and enter O for the amounts.) Date Account Titles and Explanation June 12 Cash Common Stock Debit Credit 315000 Paid-in Capital in Excess of Par Value-Common Stock 231000 July 11 Cash Preferred Stock Paid-in Capital in Excess of Par Value-Preferred Stock Nov. 28 Treasury Stock Cash 452000 420000 7700 84000 7700