Current Attempt in Progress Novak 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 21,000 shares for cash at $56 per share. July Issued 10,000 shares for cash at $60 per share. (a) 1 Journalize the transactions. (List all debit entries before credit entries. 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 eTextbook and Media List of Accounts Save for Later Debit Attempts: 0 of 3 used Credit Submit Answer

Novak 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 compary had the following events and transactions pertaining to its preferred stock. Feb. 1 Issued 21,000 shares for cash at $56 per share. July 1 Issued 10,000 shares for cash at $60 per share. (a) Joumalize the transactions. (List all debit entries before credit entries. Record journal entriles in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually)