On October 15, Crimson Pottery Corporation issued for cash 400,000 common shares at $4.50 per share. On November 6, Crimson Pottery issued 15,000 $1 preferred shares for $32 per share. On December 21, Crimson Pottery issued 13,000 common shares in exchange for equipment with a fair market value of $61,750.
Journalize the entries to record the October 15, November 6, and December 21 transactions.