https/ Problem 13 6A (Part Level Submlssihon Irwin Corporation has been authoried to issue 21.000 shares of $100 par value, 10 %, preferred stock and $2.80 stated value to the common Preferred Stock Paid-in Capital in Exce stock. At December 31, 2017, the ledger contained the following balances pertaining to hen signed a $130,000 1,128,400 8,400 ess of Par-Preferred Stock Paid-in Capital in Excess of Stated Vallue-Common Stodk Treasury Stock (700 common shares) Paid -in Capital from Treasury Stock Retained Earnings ,050 The preferred stock was issued for comon stock issued was for cash. le Novermber 1,050 shares of common stock were purchased tor the treasury at a per share cost of $12. In December, 350 shares of treasury stock were sold for $15 per share. No &vidends were dedared in 2017 land having a fair value of :44,000. (a) Bror answer is correct. Prepare the journal entries for the (Credit account titles are automatically indented when amount is entered. Do not indent manually (1) Issuance of preferred stock for land. (2) Issuance of common stock for cash 3) Purchase of common treasury stock for (4) Sale of treasury stock for cash cash, No. Account Titles and Explanation Debit Credt