help corporation has issued 2000 shares of common stock and 400 shares of preferred stock for a lump sum of 90,000 cash.

give the journal entries for the issuance assuming the par value of common stock was $5 dollars and the fair value $30 and the par value preferred stock was $40 and the fair value $50. *based on ready market for each stcok

give the journal entry for the insurance assuming the same facts as the par value of common stock was five dollars and the fair value of $26 per share and the par value of the preferred stock was $40 and has no ready market.