Arizona Corporation has two classes of stock: common, $4 par value; and preferred, $10 par value. Requirements 1. Joumalize Arizona's issuance of 4,000 shares of common stock for $15 per share. 2. Journalize Arizona's issuance of 4,000 shares of preferred stock for a total of $40,000. Requirement 1. Journalize Arizona's issuance of 4,000 shares of common stock for $15 per share. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)