Question: CALCULATON PULLORE INTERVISOR BACK HER Matlock Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock

CALCULATON PULLORE INTERVISOR BACK HER Matlock Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $120,000 (a) Prepare the journal entry for the issuance when the market price of the common shares is $161 each and market price of the preferred 1205 ch. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is 1210 per share (Round answers to decimal places de $1,225. Credit accountities are automatically indented when amount is enteret. Do not indent manuallyIf no estry is requires, et "No Entry for the account titles and enter o for the amounts) Ne, Account Tities and Explanation Debit Credit (a) (6)

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