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Illinois Corporation has two classes of stock: common, $2 par value; and preferred. $20 par value Requirements 1. Journalize Illinois's issuance of 2,000 shares of common stock for $11 per share. 2. Journalize Illinois's issuance of 2,000 shares of preferred stock for a total of $40,000. Requirement 1. Journalize Illinois's issuance of 2,000 shares of common stock for $11 per share. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanations Debit Credit TS Requirement 2. Journalize Illinois's issuance of 2,000 shares of preferred stock for a total of $40,000. (Record debits first then credits Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit