Amygdala Corporation has issued 3,000 shares of common stock and 500 shares of preferred stock for a lump sum of $100,000 cash. Prepare the journal entry to record stock issuance assuming the par value of the common stock was $6 and the fair value $16, and the par value of preferred stock was $42, all per share. Preferred stock has no ready market, hence the fair value of preferred stock is unknown. [10 points] AJ AJ Previous Page Next Page Page 1 of 2