Wingra Corporation was organized in March. It is authorized to issue 550,000 shares of $100 par value 10% preferred stock. It is also authorized to issue 750,000 shares of $1 par value common stock. In its first year, the corporation has the following transactions: Mar. 1 Issued 20,000 shares of preferred stock at $115 per share. Mar. 2  Issued 150,000 shares of common stock at $13 per share. Apr. 10 Issued 15,000 shares of common stock for equipment valued at $198,000. The stock is currently trading at $12 per share, and is a more reliable indicator of the value of the equipment. Jun. 12 Issued 12,000 shares of common stock at $15 per share. Aug. 5 Issued 1,000 shares of preferred stock at $112 per share. Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank.

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