ccountsGeneral Journal Chart of Instructions Instructions On May 10, a company issued for cash 1,500 shares of no-par common stock (with a stated value of $2) at $16, and on May 15, it issued for cash 3,000 shares of $15 par preferred stock at $60. Required Journalize the entries for May 10 and 15, assuming that the common stock is to be credited with the stated value. Refer to the Chart of Accounts for exact wording of account titles Instructions General Journal PAGE 1 JOURNAL DESCRIPTION POST REF DEBIT CREDIT DATE May 10 Cash 24,000.00 Common Stock Paid-In Capital in Excess of Par-Common Stock May 15 Cash Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock