Florida Corporation has two classes of stock: common, $1 par value; and preferred, $25 par value Requirements 1. Journalize Florida's issuance of 1,500 shares of common stock for $12 per share. 2. Journalize Florida's issuance of 1,500 shares of preferred stock for a total of $37,500. Requirement 1. Journalize Florida's issuance of 1,500 shares of common stock for $12 per share. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanations Debit Credit