King Corporation began operations in January of the current year. The charter authorized the following stock:
Preferred stock: 10 percent, $10 par value, 40,000 shares authorized
Common stock: $5 par value, 85,000 shares authorized
During the current year, the following transactions occurred in the order given:
a. Issued 66,000 shares of common stock for $9 per share.
b. Issued 9,000 shares of the preferred stock for $20 per share.
c. Issued 1,000 shares of the preferred stock for $20 per share and 2,500 shares of common stock for $10 per share.

Required:
Provide the journal entries required to record each of the transactions in (a) through (c).