Beauty Island Corporation began operations on April 1 by issuing 58,500 shares of $4 par value common stock for cash at $15 per share. On April 19, it issued 2,350 shares of common stock to attorneys in settlement of their bill of $26,700 for organization costs. In addition, Beauty Island issued 1,400 shares of $2 par value preferred stock for $8 cash per share.

Journalize the issuance of the common and preferred shares, assuming the shares are not publicly traded.