Moonwalker Corporation issued 2,000 shares of its $10 par value common stock for $60,000. Moonwalker also incurred $1,500 of costs associated with issuing the stock. Prepare Moonwalker's journal entry to record the issuance of the company's stock.

Hinges Corporation issued 500 shares of $100 par value preferred stock for $61,500. Prepare Hinges's journal entry.