Ava School of Learning obtained a charter at the start of the year that authorized 50,000 shares of no-par common stock and 20,000 shares of preferred stock, par value $10. During the year, the following selected transactions occurred: Collected $42 cash per share from four individuals and issued 5, 200 shares of common stock to each. Issued 6, 200 shares of common stock to an outside investor at $42 cash per share. Issued 8, 200 shares of preferred stock at $22 cash per share. Prepare the journal entries indicated for each of these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)