Exercise 11-3 Grouper 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 41,600 shares for cash at $105 per share. uly 1 Issued 123,000 shares for cash at $58 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. I no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Post to the stockholders' equity accounts. (Use T-accounts.) (Post entries in the order of journal entries posted in the previous part.) Preferred Stock Paid-in Capital in Exxcess of Par Value- Preferred Stock