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Maine Corporation has two classes of stock: Common, $3.00 par; Preferred, $30.00 par. lournalize M issuance of the following: (FILL IN 2 HIGHLIGHTED AREAS) aine's

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Maine Corporation has two classes of stock: Common, $3.00 par; Preferred, $30.00 par. lournalize M issuance of the following: (FILL IN 2 HIGHLIGHTED AREAS) aine's 3. 1,000 shares of common stock for $9.00 per share 1,000 shares of preferred stock for a total of $30,000.00 a. b. CREDIT (S) POST. REF Accounts and Explanations DEBIT (S) Cash (1,000 x $9.00) 9,000.00 a. Common Stock (1,000 x $3.00) Paid-r Capital in Excess of Par 6,000.00 Cash 30,000.00 Preferred Stock (1,000 x $30.00) BER FROM ACCOUNTING 1A THAT DEBIT &CREDIT COLUMN SHOULD BALANCE (meaning be the same)

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