6. What is the journal entry to record the issuanceof 1,000,000 common shares for $8 each and

250,000, $2.50 preferred shares for $3.50 each?

1. Cash 8,625,000

Common Shares 8,000,000

Preferred Shares 625,000

1. Cash 8,875,000

Common Shares 8,000,000

Preferred Shares 875,000

1. Common Shares 8,000,000

Preferred Shares 875,000

Cash 8,875,000

1. Common Shares 8,000,000

Preferred Shares 625,000

Cash 8,625,000