Exercise $18-9($Algo$)$ New equity issues; offerings announcements $[$LO$18-4]$

When companies offer new equity security issues, they publicize the offerings in the financial press and on Internet sites. Assume the following were among the equity offerings reported in December $2024$ :

New Securities Issues

Equity

American Materials Transfer Corporation $($AMTC$)-8\mathrm{.}0$ million common shares, $$0\mathrm{.}001$ par, priced at $$14\mathrm{.}816$ each through underwriters led by Second Tennessee Bank N$.$A$.$ and Morgan, Dunavant & Company, according to a syndicate official.

Proactive Solutions Incorporated $($PSI$)-$Offering of $9$ million common shares, $$0\mathrm{.}01$ par, was priced at $$16\mathrm{.}60$ a share via lead manager Stanley Brothers, Incorporated, according to a syndicate official.

Required:

Prepare the appropriate journal entries to record the sale of both issues to underwriters. Ignore share issue costs.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Enter your answers in whole

dollars and not in millions.

Record the issuance of AMTC stock.

Record the issutance of the PSI stock.