(14). Bashir Inc. issues 2,500 shares of $1 par value common stock and 1,000 shares of $50 par value preferred stock for a lump sum of $275,000. Instructions (a). Prepare the journal entry for the issuance when the market value of the common shares is $95 each and market value of the preferred is $60 each. (1.7 marks) (b). Prepare the journal entry for the issuance when only the market value of the common stock is known and it is $90 per share. (0.8 mark)