Question - The Epson company had the following transactions.
a. Issued 4,000 shares of $100 par preferred stock at $106 for cash.
b. Issued 5,000 share of common stock with a par value of $10 for $105,000.
c. Purchased 500 shares of treasury common stock for $10,000
d. Paid cash dividend of $20,000.
Prepare the appropriate journal entries.