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Please Journalize using the following information.

Instructions Chart of Accounts Journal Instructions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: $3,980,000 159,200 Preferred 1% Stock, $50 par (100,000 shares authorized, 79,600 shares issued) Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $3 par (5,000,000 shares authorized, 1,870,000 shares issued) Pald-In Capital in Excess of Par-Common Stock Retained Earnings 5,610,000 1,215,500 31,497,000 Instructions Chart of Accounts Journal Instructions During the year, the corporation completed a number of transactions affecting the stockholders equily. They are summarized as follows: a. Issued 532,900 shares of common stock at 59, receiving cash b. Issued 11,000 shares of preferred 1% stock at $58. c. Purchased 45,400 shares of treasury common for $8 per share d. Sold 21,400 shares of treasury common for $10 per share. e. Sold 4,300 shares of treasury common for $7 per share. 1. Declared cash dividends of S0.50 per share on preferred stock and $0.07 per share on common stock g. Paid the cash dividends. Journalize the entries to record the transactions. Refer to the Chart of Accounts for exact wording of account titles

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