Selected Stock Transactions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 2% Stock, $50 par (40,000 shares authorized, 20,000 shares issued) $1,000,000 Paid-In Capital in Excess of Par-Preferred Stock 200,000 Common Stock, $20 par (600,000 shares authorized, 240,000 shares issued) 4,800,000 Paid-In Capital in Excess of Par-Common Stock 620,000 Retained Earnings 14,034,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 60,000 shares of common stock at $26, receiving cash. b. Issued 10,000 shares of preferred 2% stock at $62. c. Purchased 36,000 shares of treasury common for $25 per share. d. Sold 18,000 shares of treasury common for $28 per share. e. Sold 12,000 shares of treasury common for $23 per share. f. Declared cash dividends of $1.00 per share on preferred stock and $0.08 per g. Paid the cash dividends. on common stock. Required: Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank.

Selected Stock Transactions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 2% Stock, $50 par (40,000 shares authorized, 20,000 shares issued) $1,000,000 Paid-In Capital in Excess of Par-Preferred Stock 200,000 Common Stock, $20 par (600,000 shares authorized, 240,000 shares issued) 4,800,000 Paid-In Capital in Excess of Par-Common Stock 620,000 Retained Earnings 14,034,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 60,000 shares of common stock at $26, receiving cash. b. Issued 10,000 shares of preferred 2% stock at $62. c. Purchased 36,000 shares of treasury common for $25 per share. d. Sold 18,000 shares of treasury common for $28 per share. e. Sold 12,000 shares of treasury common for $23 per share. f. Declared cash dividends of $1.00 per share on preferred stock and $0.08 per g. Paid the cash dividends. on common stock. Required: Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank.