completed during the first year of operations: Journalize the transactions. July 1. Issued 80,000 shares of common stock at par for cash. If an amount box does not require an entry, leave it blank. July 1 July 1 Aug. 7 Sept. 20. Issued 30,000 shares of preferred stock at $68 for cash. If an amount box does not require an entry, leave it blank. Sept. 20