Exercise 131 Parker Corporation has issued 2,300 shares of common stock and 460 shares of preferred stock for a lump sum of $86,000 cash. Give the entry for the issuance assuming the par value of the common stock was $5 and the fair value $30, and the par value of the preferred stock was $40 and the fair value $50. (Each valuation is on a per share basis and there are ready markets for each stock.) (Credit account titles are automaticaly Indented when amount is entered. Do not indent manually. If no entry Is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS Give the entry for the issuance assuming the same facts as the par value of the common stock was $5 and the fair value of $22 per share, and the par value of the preferred stock was $40 and has no ready market. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for th account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit