Christianson, Inc., has two classes of stock, $15 par common and $25 par preferred. Journalize Christianson's issuance

Question:

Christianson, Inc., has two classes of stock, $15 par common and $25 par preferred. Journalize Christianson's issuance of the following:

a. 1,000 shares of common stock for $35 per share

b. 2,000 shares of preferred stock for a total of $83,000 Explanations are not required?

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...