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On February 1 2 , Quality Carpet Inc., a carpet wholesaler, issued for cash 1 8 5 , 0 0 0 shares of no -

On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 185,000 shares of no-par common stock (with a stated value of $3) at $9, and on August 3, it issued for cash 25,000 shares of $70 par preferred stock at $75.
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a. Journalize the entries for February 12 and August 3, assuming that the common stock is to be credited with the stated value.
For a compound transaction, if an amount box does not require an entry, leave it blank.
Feb. 12
Aug. 3
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b. What is the total amount invested (total paid-in capital) by all stockholders as of August 3?
$fill in the blank 2c4463056033050_1

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