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Ayayai Corporation issued 380 shares of $10 par value common stock and 107 shares of $50 par value preferred stock for a lump sum of

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Ayayai Corporation issued 380 shares of $10 par value common stock and 107 shares of $50 par value preferred stock for a lump sum of $15,507. The common stock has a market price of $20 per share, and the preferred stock has a market price of $90 per share. Prepare the journal entry to record the issuance. (Round intermediate calculations to 6 decimal places, e.g. 0.546872 and final answers to O decimal places, e.g., 1,520. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit Cash 15507 Preferred Stock 5350 Paid-in Capital in Excess of Par - Preferred Stock 3334 Common Stock 3800 Paid-in Capital in Excess of Par - Common Stock 3023

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