Grouper Corp. began operations on April $1$ by issuing $51,600$ shares of $$5$ par value common stock for cash at $$14$ per share. In addition, Grouper issued $1,700$ shares of $$1$ par value preferred stock for $$3$ per share.

Journalize the issuance of the common and preferred shares. $($Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts.$)$

Date Account Titles and Explanation

April $1$

$($To record issuance of common shares$)$

April $1$

$($To record issuance of preferred shares$)$