Ex4: A company is authorized to issue 10,000 shares of $25 par value, 12% cumulative, fully participating preferred stock, and 300,000 shares of $3 par value common stock. Prepare journal entries that occurred during the company first year of operation: June 27th, Sold 2,000 shares of preferred stock for $25 per share. Nov 11st, Sold 1,500 shares of preferred stock for $28 per share. Date Debit Credit Exercise 13-3: Rodriguez Corporation issues 19000 shares of its common stock for $152,000 cash on February 20. Prepare journal entries to record this event under each of the following separate situations 1. The stock has a $2 par value. 2. The stock has neither par nor stated value. 3. The stock has a $5 stated value. LEARNING CENTER Date Debit Credit