Daley Welding Corporation sells and services pipe welding equipment in Illinois. The following selected accounts appear in the ledger of Daley Welding Corporation on May 1, 2012, the beginning of the current fiscal year:

Preferred 2% Stock, $40 par (50,000 shares authorized,
40,000 shares issued).................... $ 1,600,000
Paid-In Capital in Excess of par-preferred Stock.......... 240,000
Common Stock, $8 par (1,000,000 shares authorized,
750,000 shares issued).................... 6,000,000
Paid-In Capital in Excess of par-Common Stock......... 2,500,000
Retained Earnings..................... 43,175,000

During the year, the corporation completed a number of transactions affecting the stockholders’ equity. They are summarized as follows:
a. Purchased 100,000 shares of treasury common for $1,500,000.
b. Sold 60,000 shares of treasury common for $1,080,000.
c. Issued 8,000 shares of preferred 2% stock at $50.
d. Issued 150,000 shares of common stock at $21, receiving cash.
e. Sold 25,000 shares of treasury common for $362,500.
f. Declared cash dividends of $0.80 per share on preferred stock and $0.11 per share on common stock.
g. Paid the cash dividends.
Instructions
Journalize the entries to record the transactions. Identify each entry by letter.