Micro Electronics completed the following stock issuance transactions: June 7 Issued 4,000 shares of $3 par value common stock for cash of $12 per share Aug. 16 Issued 400 shares of no-par preferred stock for $25,000 cash Sept. 19 Received equipment with a market value of $75,000 in exchange for 5,000 shares of the $3 par value common stock Prepare the journal entries to record these transactions. Explanations are not required