1 of 6 < > -/1 E! Flounder Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $108,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $164 each and market price of the preferred is $205 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $186 per share. (Round answers to O decimal places, eg. $1,225. Credit account titles are automatically indented when 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 Debit Credit (a) Cash Common Stock Paid-in Capital in Excess of Par Common Stock Preferred Stock Paid-in Capital in Excess of Par- Preferred Stock (b) Cash Common Stocki Question 1 of 6 No. Account Titles and Explanation (a) Cash Common Stock Paid-in Capital in Excess of Par-Common Stock Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock (b) Cash Common Stock Paid-in Capital in Excess of Par - Common Stock Paid-in Capital in Excess of Par- Preferred Stock Debit Credit -/1