This problem is worth 11 points. On January 1, Year 1, D Corporation was authorized to issue 100,000 shares of common stock, par value $4 per share, and 20,000 shares of 5 percent cumulative preferred stock, par value $50 per share. Describe the appropriate journal entries for each of the following transactions: (a) issued 60,00G shares of common stock at $12 per share, (b) issued 12,000 shares of preferred stock at $56 per share, (c) Board of Directors declared a cash dividend for a total of $30,000 for the preferred stockholders that was paid immediately, (d) reacquired 1,000 shares of common stock at $14 per share, (d) reissued 200 of the treasury shares for $15 per share. EXAMPLE: If you were doing a problem where the transaction was to pay off an accounts payable that had a balance of $500, your answer would be: DEBIT ACCOUNTS PAYABLE FOR 500 AND CREDIT CASH FOR 500