9.4 elected Stock Transactions The following selected accounts appear in the ledger of Upscale Construction Inc. at the beginning of the current year: Preferred 2% Stock, $175 par (60,000 shares authorized, 30,000 shares issued) $ 5,250,000 Paid - In Capital in Excess of Par-Preferred Stock 840,000 Common Stock, $20 par (600,000 shares authorized, 220,000 shares issued) 4,400,000 Paid - In Capital in Excess of Par-Common Stock 570,000 Retained Earnings 23,447,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: Issued 60,000 shares of common stock at $25, receiving cash. Issued 15,000 shares of preferred 2% stock at $190. Purchased 36,000 shares of treasury common for $25 per share. Sold 18,000 shares of treasury common for $28 per share. Sold 12,000 shares of treasury common for $23 per share. Declared cash dividends of $3.50 per share on preferred stock and $0.10 per share on common stock. Paid the cash dividends. Required: Journalize the entries to record the transactions. If an amount box does not require an entry, leave it blank. Question Content Area a. Issued 60,000 shares of common stock at $25, receiving cash. blank Question Content Area b. Issued 15,000 shares of preferred 2% stock at $190. blank Question Content Area c. Purchased 36,000 shares of treasury common for $25 per share. blank Question Content Area d. Sold 18,000 shares of treasury common for $28 per share. blank Question Content Area e. Sold 12,000 shares of treasury common for $23 per share. blank Question Content Area f. Declared cash dividends of $3.50 per share on preferred stock and $0.10 per share on common stock. blank Question Content Area g. Paid the cash dividends. blank