Somer Co. had these transactions during the current period:
June 12 Issued 60,000 shares of $1 par value common stock for cash of $300,000
July 11 Issued 1,000 shares of $100 par value preferred stock for cash at $104 per share
Nov 28 Purchased 2,000 shares of treasury stock for $11,000
Prepare the journal entries for the transactions shown above
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