Entries for Issuing No.Par Stock On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 165,000 shares of no par common stock (with a stated value of $3) at 59, and on August 3, it issued for cash 30,000 shares of preferred stock, $65 par at $69. a. Journalize the entries for February 12 and August 3, assuming that the common stock is to be credited with the stated value. If an amount box does not require an entry, leave it blank. Feb. 12 Cash Common Stock Paid-In Capital in Excess of Stated Value-Common Stock Aug. 3 Cash Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock