@ 100% 12-16 PM Sun Jan 19 C13 #2 Exercise 13-09 a-b (Video) Flounder Corporation is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock Feb. 1 Issued 19,500 shares for cash at $58 per share. July 1 Issued 13,500 shares for cash at $62 per share. - 16000 Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Feb. 1 Cash WA1131000 Preferred Stock 975000 Paid-in Capital in Excess of Par-Preferred Stock 1 033500 July 1 Cash 837000 Preferred Stock 62500 675000 Paid-in Capital in Excess of Par-Preferred Stock 162000 Post to the stockholders' equity accounts. (Post entries in the order of journal entries presented in the previous part.) Preferred Stock Date Explanation Ref. Credit Balance 156000 162000 Feb 1 1131000 975000 July 1 837000 675000 Paid-in Capital in Excess of Par Preferred Stock Date Explanation Re. Debit Credit Feb. 1 Balance July ! Click if you would like to Show Work for this question: Open Show Work Question Attempts: 9 of 3 used SAYE FOR LATER