New Hampshire Corporation has two classes of stock: common, $2 par value; and preferred, $5 par value. Requirements 1. Journalize New Hampshire's issuance of 1,500 shares of common stock for $8 per share. 2. Journalize New Hampshire's issuance of 1,500 shares of preferred stock for a total of $7,500. Requirement 1. Journalize New Hampshire's issuance of 1,500 shares of common stock for $8 per share. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanations Debit Credit 12,000 Cash Common Stock-$2 Par Value Paid-In Capital in Excess of Par-Common 3,000 9,000 Issued common stock at a premium. Requirement 2. Journalize New Hampshire's issuance of 1,500 shares of preferred stock for a total of $7,500. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Cash Preferred Stock-$5 Par Value Debit Credit 15000 7,500