balance sheet 1. You issue 2,000 shares of $10 par common stock at $10 per share. Correct Date Account Debit 20,000 Credit Cash Common Stock 20,000 Number of common shares outstanding Number of preferred shares outstanding Correct Correct 2 You issue 20,000 shares of $10 par common stock at $14 per share. Correct Date 2. Account Debit 280,000 Credit cash common stock capital in excess of par-common stock 200,000 80,000 Number of common shares outstanding Number of preferred shares outstanding 3. You issue 5,000 shares of $75 par preferred stock at $80 per share. Date Account Debit 400,000 Credit cash stock paid-in capital in excess of par-preferred stock sock375,000 25,000 Number of common shares outstanding Number of preferred shares outstanding Correct 4. You issue 8,000 shares of $10 par common stock for land. The fair market value of the stock is $16 per share. Correct Date Credit 128,000 common stock 80,000 pald-in capital in excess of par-common stocik 48,000 Number of common shares outstanding Number of preferred shares outstanding