During the month of February, B & B Builders, Inc. completed the following transactions related to its stock:

? February 2: Issued 3,000 shares of no-par, Class A common stock with a stated value of $1 for $15 cash per share.
? February 3: Issued 9,000 shares of no-par, Class B common stock with no stated value for $20 per share.
? February 20: Issued 600 shares of $4 par value preferred stock for equipment with a fair market value of $5,000.

Required:
Prepare journal entries for the above transactions. Omit explanations.

Date Account Debit Credit
Feb. 2 Cash (3,000 × $15 ) 45,000
Class A Common Stock (3,000 × $1 ) 3,000
Paid-in Capital in Excess of Stated Value—
Common (3,000 × $14 )
42,000

Feb. 3 Cash (9,000 × $20 ) 180,000
Class B Common Stock 180,000

Feb. 20 Equipment 5,000
Preferred Stock (600 × $4 ) 2,400
Paid-in Capital in Excess of Par—Preferred 2,600