The following selected accounts appear in the ledger of Okie Environmental Corporation on August 1,.

The following selected accounts appear in the ledger of Okie Environmental Corporation on August 1,.

The following selected accounts appear in the ledger of Okie Environmental Corporation on August 1, 2010, the beginning of the current fiscal year: During the year, the corporation completed a number of transactions affecting the stockholders’ equity. They are summarized as follows: (a) Issued 17,500 shares of common stock at $81, receiving cash. (b) Issued 8,000 shares of preferred 2% stock at $63. (c) Purchased 5,000 shares of treasury common for $390,000. (d) Sold 3,000 shares of treasury common for $240,000. (e) Sold 1,000 shares of treasury common for $75,000. (f) Declared cash dividends of $1 per share on preferred stock and $0.80 per share on common stock. (g) Paid the cash dividends. Instructions Journalize the entries to record the transactions. Identify each entry byletter.

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