Journalize the entries to record the following transactions for Mountain Realty Inc. Refer to the Chart of

Question:

Journalize the entries to record the following transactions for Mountain Realty Inc. Refer to the Chart of Accounts for exact wording of account titles
Aug. 26 Issued for cash 95,000 shares of no-par (with a stated value of $5) at $9.
Oct. 1 Issued at 39,000 shares of preferred 1% stock, $10 par for cash.
Nov. 30 Issued for cash 19,000 shares of preferred 1% stock, $10 par at $15.
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...