On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 155,000 shares of no-par common stock (with a stated value of $5) at $20, and on August 3, it issued for cash 10,000 shares of $85 par preferred stock at $89.

a. Journalize the entries for February 12 and August 3, assuming that the common stock is to be credited with the stated value.