Illinois Corporation has two classes of stock: common, $3 par value; and preferred, $25 par value. Requirements 1. Journalize Illinois's issuance of 4,500 shares of common stock for $15 per share. 2. Journalize Illinois's issuance of 4,500 shares of preferred stock for a total of $112,500. Requirement 1. Journalize Illinois's issuance of 4,500 shares of common stock for $15 per share. (Record debits firm Date Accounts and Explanations Debit Credit