Illinois Corporation has two classes of stock: common, $2 par value; and preferred, $20 par value. Requirements 1. Journalize Illinois's issuance of 5,500 shares of common stock for $6 per share. 2. Journalize Illinois's issuance of 5,500 shares of preferred stock for a total of $110,000. Requirement 1. Journalize Illinois's issuance of 5,500 shares of common stock for $6 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 11000 16500

Winos Corporation has two classes of stock, common, $2 par valuo, and prefarted, $20 par value. Requirements 1. Journalze litinois's issuance of 5,500 shares of common stock for $6 per share. 2. Journabze lilinois's issuance of 5,500 shares of prelerred stock for a total of 5110,000