2 10 points Itranscript 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. Sold 66,000 shares of common stock for $9 per share. b. Sold 9,000 shares of the preferred stock for $20 per share. c. Sold 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). Note: If no entry is required for a transaction/event, select "No journal entry required" In the first account field. Answer is not complete. No Transaction 1 a. Cash Common stock General Journal Debit Credit 180,000 x 90,000 Additional paid-in capital, common stock 90,000