Colorado Corporation has two classes of stock: common, $4 par value; and preferred, $5 par value Requirements 1. Journalize Colorado's issuance of 4,500 shares of common stock for $7 per share. 2. Journalize Colorado's issuance of 4,500 shares of preferred stock for a total of $22,500. Requirement 1. Journalize Colorado's issuance of 4,500 shares of common stock for $7 per share. (Record debits first, then credits. Sele Date Accounts and Explanations Debit Credit Requirement 2. Journalize Colorado's issuance of 4,500 shares of preferred stock for a total of $22,500. (Record debits first, then credits Date Accounts and Explanation Debit Credit