On January 5, 2020, Buffalo Corporation received a charter granting the right to issue 5,500 shares of $100 par value, 8% cumulative and nonparticipating preferred stock, and 46,300 shares of $10 par value common stock. It then completed these transactions. Jan.11 Issued 19,400 shares of common stock at $15 per share. Feb.1 Issued to Sanchez Corp. 4,200 shares of preferred stock for the following assets: equipment with a fair value of $54,100; a factory building with a fair value of $162,000; and land with an appraised value of $274,000. July 29 Purchased 1,700 shares of common stock at $16 per share. (Use cost method.) Aug. 10 Sold the 1,700 treasury shares at $15 per share. Dec. 31 Declared a $0.25 per share cash dividend on the common stock and declared the preferred dividend. Dec.31 Closed the income Summary account. Therȩ'was a $176,200 net income. (a) - Your answer is partially correct. Record the journal entries for the transactions listed above. (Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record entries in the order displayed in the problem statement. Round answers to 0 decimal places, e.g. $5,275 ) Paid-in Capital in Excess of Par - Preferred Stock 70100 Treasury Stock 27200 Cash 27200 Retained Earnings 1700 Treasury Stock Retained Earnings 33600 Dividends Payable 33600 Dec 31 income Summary 176200 Retained Earnings eTextbook and Media 176200