Colorado Corporation has two classes of stock: common, $3 par value; and preferred, $30 par value. Requirements 1. Journalize Colorado's issuance of 4.500 shares of common stock for $6 per share. 2. Journalize Colorado's issuance of 4,500 shares of preferred stock for a total of $135,000 Requirement 1. Journalize Colorado's Issuance of 4,500 shares of common stock for $6 per share. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanations Debit Credit Cash Common Stock $3 Par Value Paid-In Capital in Excess of Par-Common Issued common stock at a premium. Requirement 2. Journalize Colorado's issuance of 4,500 shares of preferred stock for a total of $135,000. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Cash Preferred Stock-$30 Par Value Issued common stock for cash