Show how each of the following transactions would be recorded
Show how each of the following transactions would be recorded in the accounting equation:
August 1 Issued 75,000 shares of $0.05 par value common stock for cash of $750,000
November 1 Issued 2,500 shares of $100 par value preferred stock for cash at $160 per share
December 31 Purchased 5,000 shares of treasury stock (i.e., the company bought its own common stock in the stock market) for $11.00 per share

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