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Bob's Aulo, inc. issued 20,000 shares of $5 par value common stock for 55 cash per share. What is the journal entry to tecord this

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Bob's Aulo, inc. issued 20,000 shares of $5 par value common stock for 55 cash per share. What is the journal entry to tecord this transaction? Debit Preferred Stock 100,000 Credit Cash 100,000 Debit Cash 100,000 Credi Common Slock 100,000 : Debit Cominon Slock 100,000 Creos Cash 100,000 Debit Cash 100,000 Credit Preferred Slock 100,000

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