Current Attempt in Progress Martinez Corp. 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 July 1 (a) Issued 42,500 shares for cash at $53 per share. Issued 61,500 shares for cash at $56 per share. 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. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Feb. 1 V Account Titles and Explanation Cash Preferred Stock Paid-in Capital in Exe EDO Valur Debit Credit

Martinez Corp. 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 42,500 shares for cash at $53 per share. July 1 Issued 61,500 shares for eash at $56 per share. (a) Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are outomatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry' for the occount titles and enter 0 for the amounts.) Preferred Stock Paid-in Capital in Excess of Par Value-Preferred Stock July 1 Cash Preferred Stock Paid-in Capital in Excess of Par Value-Preferred Stock eTextbook and Media List of Accounts Savefor Later Last saved 1 second ago. Attempts: 0 of 1 used Submit Answer Saved work will be auto submitted on the due date Autosubmission can take up to 10 minutes. (b)