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  3. king corporation began operations in january of th

King Corporation began operations in January of the current year. The charter authorized the following...

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Accounting

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King Corporation began operations in January of the current year. The charter authorized the following stock: Preferred stock: 10 percent, $11 par value, 41,000 shares authorized Common stock: $6 par value, 85,900 shares authorized During the current year, the following transactions occurred in the order given: a. Sold 22,900 shares of common stock for $10 per share. b. Sold 8,700 shares of the preferred stock for $21 per share. c. Sold 2,800 shares of the preferred stock for $21 per share and 1,900 shares of common stock for $11 per share. Required: Provide the journal entries required to record each of the transactions in (a) through (c). Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Issued 22,900 shares of common stock for $10 per share. Note: Enter debits before credits

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