Question: Upon formation on May 12, 2015, Big Zero issued 3,000 shares each of $10 par preferred stock and $8 par common stock for $12 per

Upon formation on May 12, 2015, Big Zero issued 3,000 shares each of $10 par preferred stock and $8 par common stock for $12 per share.

Blank 1: What is the amount of the journal entry to Paid in Capital in Excess of Par - Preferred Stock? Enter your answer as a number only - no punctuation ($ , .). For example, if your answer is 115,000, enter 115000 in the blank.

Blank 2: Is it a debit or credit?

Question options:

Blank # 1
Blank # 2

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