Question: On January 14, Peerless Rocks Inc., a marble contractor, issued for cash 65,000 shares of $8 par common stock at $27, and on March 17,

On January 14, Peerless Rocks Inc., a marble contractor, issued for cash 65,000 shares of $8 par common stock at $27, and on March 17, it issued for cash 160,000 shares of $4 par preferred stock at $6.

a. Journalize the entries for January 14 and March 17.

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