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Kappa Enterprises issued 7,000 shares of common stock at $100 per share. The stock issuance costs amounted to $5,000. Requirements: a. Prepare the journal entry

Kappa Enterprises issued 7,000 shares of common stock at $100 per share. The stock issuance costs amounted to $5,000. Requirements: a. Prepare the journal entry to record the issuance of common stock by Kappa Enterprises. b. Calculate the total amount of cash received from the issuance. c. Record the common stock account. d. Determine the amount of stock issuance costs to be capitalized.

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