A company issues 600 shares of $4 par value preferred stock for $12 per share on March

Question:

A company issues 600 shares of $4 preferred stock for $12 per share on March 15.
Required
Prepare the entry that the company would make to record the issuance.
Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...