Colorado Corporation has two classes of stock: common, $2 part value; and preferred, $20 part value

6 13 of This Question: 1 pl Colrado Corporation has two classes of stock common, $2 par value; and proferred, $20 par value Requirements 1. Joumalize Colorado's issuance of 5,500 shares af common stock for $7 per share 2. Joumalize Colorado's issuance of 5.500 shares of preferred stock for a total of $110.000 Requirement 1. Jounalize Colorado's issuance of 5,500 shares of common stock for $7 per share. (Record dobits first, then credits Select the explanation on the last Ina of tha journal entry table) Accounts and Explanations Debit Date Credit Requirement 2. Joumalice Colorado's issuance of 5,500 shares of preferred stock for a total of 5110,000. (Record debits first then credits Selact the explanation on the last line of the journal entry table) Date Accounts and Explanation Debit Credit