Colorado Corporation has two classes of stock: common, $5 par value; and preferred, $10 par value. Requirements 1. Journalize Colorado's issuance of 3,000 shares of common stock for $12 per share. 2. Journalize Colorado's issuance of 3,000 shares of preferred stock for a total of $30,000. Requirement 1. Joumalize Colorado's issuance of 3,000 shares of common stock for $12 per share. (Record debits first, then credits. Select the explanation on the last line of the jounal entry table.) Date Debit Credit Accounts and Explanations Cash Common Stock-$5 Par Value Paid-In Capital in Excess of Par-Common Paid-In Capital in Excess of Par-Preferred Requirement 2. Preferred Stock-No Par Value tock for a total of $30,000. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Retained Eanings Requirement 2. Jourmalize Colorado's issuance of 3,000 shares of preferred stock for a total of $30,000. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) DebitCredit Date Accounts and Explanation Cash Common Stock-$5 Par Value Equipment Inventory Paid-In Capital in Excess of Par Commorn Paid-In Capital in Excess of Par-Preferred Preferred Stock-$10 Par Value Retained Earnings Treasury Stock-Common Choose from ue to the next