Miles Co. had these transactions during the current period.
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June 12
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Issued 50,000 shares of $3 stated value common stock for cash of $250,000.
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July 11
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Issued 2,000 shares of $100 par value preferred stock for cash at $108 per share.
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Nov. 28
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Purchased 2,000 shares of treasury stock for $10,000.
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Prepare the journal entries for the preceding transactions.