Refer to the following transactions: 1. Issued 540 shares of $80 par value preferred stock at...

Refer to the following transactions:

1. Issued 540 shares of $80 par value preferred stock at par.

2. Issued 640 shares of $80 par value preferred stock in exchange for land that had an appraised value of $81,600.

3. Issued 19,000 shares of $4 par value common stock for $10 per share.

4. Purchased 4,750 shares of common stock for the treasury at $10 per share.

5. Sold 1,900 shares of the treasury stock purchased in transaction d for $12 per share.

6. Declared a cash dividend of $2.05 per share on the preferred stock outstanding, to be paid early next year.

7. Declared and issued a 4% stock dividend on the common stock when the market price per share of common stock was $17.

Prepare the journal entries to record each of the above transactions.

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