Copper Corporation was organized in May. It is authorized to issue 50,000,000 shares of $200 par value 7% preferred stock. It is also authorized to issue 75.000.000 shares of $5 par value common stock. In its first year, the corporation has the following transactions: May May 23 Jun. 10 Issued 1.000 shares of preferred stock for cash at $250 per share Issued 2,000 shares of common stock at $15.50 per share Issued 15,000 shares of common stock for equipment without a readily determinable value. The stock is currently trading at $1 per share. Journalize the transactions