Entries for Issuing Par Stock

On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 60,000 shares of $20 par common stock at $68, and on February 27, it issued for cash 100,000 shares of preferred stock $5 par at $8.

a. Journalize the entries for January 22 and February 27.

If an amount box does not require an entry, leave it blank.

Jan. 22	Cash
	Common Stock
	Paid-In Capital in Excess of Par-Common Stock
Feb. 27	Cash
	Preferred Stock
	Paid-In Capital in Excess of Par-Preferred Stock

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b. What is the total amount invested (total paid-in capital) by all stockholders as of February 27? $