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Wise Company had the following transactions.

 

Issued $7,000$ shares of common stock with a stated value of $$10$ for $$130,000.$

Issued $2,000$ shares of $$100$ par preferred stock at $$108$ for cash.

 

 

Prepare the journal entries to record the above stock transactions. $($Record journal entries in the order presented in the problem. Credit

account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the

account titles and enter O for the amounts.$)$

No$.$ Account Titles and Explanation

$1.$

Debit

Credit

$2.$