Dave Matthew Inc. issues 500 shares of $8 par value common stock and 100 shares of $105 par value preferred stock for a lump sum of $110,000.

(a) Prepare the journal entry for the issuance when the market price of the common shares is $168 each and market price of the preferred is $214 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $191.00 per share.