Exercise 11-2 Vour answer is partially correct. Try again. Cullumber Company had these transactions during the current period. June 12 Issued 80,500 shares of $1 par value common stock for cash of $301,875. July 11 Issued 3,200 shares of $100 par value preferred stock for cash at $106 per share. Nov. 28 Purchased 2,950 shares of treasury stock for $10,000. Date Account Titles and Explanation Debit Credit June 12 | |Cash 301875 Common Stock 80500 Paid-in Capital in Excess of Par Value-Common Stock July 11 leash Preferred Stock 320000 Paid-in Capital in Excess of Par Value-Preferred Stoch Nov. 28 Treasury Stock 10000 Cash 10000