Question: View Policies Current Attempt in Progress Blue Inc issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred

View Policies Current Attempt in Progress Blue Inc issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $105,000 Prepare the joumal entry for the issuance when the market price of the common shares is $172 each and market price of the preferred is $215 each. Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $180 per share. (a) (b) (Round answers to 0 decimal places, es. $1,225. Credit account titles are automatically indented when amount is entered. Do not Indent manually If no entry is required, amounts) Debit Credit No. Account Titles and Explanation (a) (b)

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