Keep geting the two dates wrong on the last question.

Penland Corporation is authorized to issue both preferred and common stock. The par value of the preferred stock is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock. Feb. 1 issued 40,000 shares for cash at $51 per share. Issued 60,000 shares for cash at $56 per share, July 1 Your answer is correct. 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 for the amounts.) Debit Credit Date Account Titles and Explanation 2040000 Feb. 1 Cach 2000000 Preferred Stock 10000 Pald-in Capitalin Excess of Par-Preferred Stock do July 1 cash 000 Preferred Stock C100000 Pald in Catalin Excess of Par Preferred Stock Preferred Stock Feb. 1 2000000 July 1 3000000 Bal. 5000000 Feb. 1 July 1 Bal. Paid-in Capital in Excess of Par-Preferred Stock Feb. 1 40000 July 14 360000 o Bal. M00000 eTextbook and Media