23. Monitor Corporation is authorized for 100,000 shares of 6%, $120 par value preferred stock and 500,000 shares of $.80 par value common stock. In the space provided below, prepare the appropriate journal entries to record the following transactions related to this stock: Show all calculations. April | Issued 5,000 shares of preferred stock for $180 per share. April 18 Issued 30,000 shares of common stock for $3.80 per share. May 16 Issued 2,000 shares of preferred stock in exchange for a building. The building has a fair market value of $250,000 and was recently for sale with an asking price of 280,000. The seller paid $200,000 for the building new. June 12 Purchased 20,000 shares of its $.80 par value common stock for $2.10 per share. Oct. 18 Assume the common stock has no par value with a stated value of $.80 per share. The company issued 40,000 shares of common stock for $28,000. Nov. 21 Assume the common stock has no par value. The company issued 50,000 shares for $325,000 Date Account Debit Credit