Question: PART 1: COMMON STOCK 5 POINTS Smart Electronics completed the following stock issuance transactions: issued 4,000 shares of S3 par value common stock for cash

PART 1: COMMON STOCK 5 POINTS Smart Electronics completed the following stock issuance transactions: issued 4,000 shares of S3 par value common stock for cash of S12 June 7 per share Aug. 16 issued 400 shares of no-par preferred stock for $25,000 cash Received equipment with a market value of $75,000 in exchange for Sept. 195,000 shares of the 3 par value common stock Prepare the journal entries to record these transactions. Explanations are not required

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