Amazing Inc. issued 1,800 shares of common stock ($1 par) and 1,800 shares of preferred stock ($10 par) at a price of $180,000 on April 1. At the time of issuance, the market price of the common stock is $30 per share, and the market price of the preferred stock is $90 per share. 

Prepare the journal entry on April 1.

Answer rating: 100% (QA)

The journal entry to record the issuance of common and preferred stock for Amazing ... View the full answer