Cornerstone Exercise 10-25 (Algorithmic) Recording the 5ale of Common and Preferred Stock Donahue Corporation is authorized by its charter from the state of lilinois to issue 750 shares of preferred stock with a 7% dividend rate and o par value of 550 per share and 22,000 shares of common stock with a par value of 50.01 per share. On January 1,2019, Donahue Comporation issues 250 shares of preferred stock at $55 per share and 13,000 shares of common stock at $13 per share. Required: Prepare the joumal entry to record the issuance of the stock. (Hecord sale of preferred and common stock)