On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 260,000 shares of no-par common stock (with a stated value of $4) at $12, and on August 3, it issued for cash 30,000 shares of $90 par preferred stock at $93. 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 Cash Common Stock 2,080,000 x Pald-In Capital in Excess of Stated Value-Common Stock Cash Aug. 3 Preferred Stock IN Paid-In Capital in Excess of Par-Preferred Stock or stock issued to investors in a corporation. Recall the definition of legal capital and what affect that has on recording the sale of stock. b. What is the total amount invested (total paid-in capital) by all stockholders as of August 3? 1,410,000 X