BridgeportCorporation began operations on April 1 by issuing51,500shares of $5par value common stock for cash at $13per share. On April 19, it issued1,650shares of common stock to attorneys in settlement of their bill of $25,300for organization costs. In addition,Bridgeportissued1,200shares of $1par value preferred stock for $7cash per share.

Journalize the issuance of the common and preferred shares, assuming the shares are not publicly traded.(Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date Account Titles and Explanation Debit Credit

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(To record issuance of common stock for attorney's fees)

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(To record issuance of Preferred stock for cash)