The following selected accounts appear in the ledger of Clear Skies Environmental Corporation on July 1, 2008, the beginning of the current fiscal year:
Preferred 2% Stock, $100 par (25,000 shares authorized,
18,000 shares issued) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,800,000
Paid-In Capital in Excess of Par—Preferred Stock . . . . . . . . . . . 216,000
Common Stock, $40 par (100,000 shares authorized,
70,000 shares issued) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,800,000
Paid-In Capital in Excess of Par—Common Stock . . . . . . . . . . . 700,000
Retained Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,200,000
During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows:
a. Issued 12,000 shares of common stock at $62, receiving cash.
b. Sold 5,000 shares of preferred 2% stock at $124.
c. Purchased 10,000 shares of treasury common for $580,000.
d. Sold 7,500 shares of treasury common for $457,500.
e. Sold 1,500 shares of treasury common for $82,500.
f. Declared cash dividends of $2 per share on preferred stock and $0.50 per share on common stock.
g. Paid the cash dividends.

Instructions
Journalize the entries to record the transactions. Identify each entry by letter.