Question: has two classes of stook: common, $5 par value; and preforred, $10 par value Requirements 1. Jounalize New Mexico's issuance of 5,000 shares of common

has two classes of stook: common, $5 par value; and preforred, $10 par value Requirements 1. Jounalize New Mexico's issuance of 5,000 shares of common stock for $10 per share 2. Joumalize New Mexico's issuance of 5,000 shares of preferred stock for a total of $50,000 Requirement 1. Jounalize New Mexico's issuance of 5,000 shares of stock for $10 per share. (Record debits first, then credits. Select the explanation on the last l Date Credit

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