On January 1, 2021, company issued 25,000 shares of common stock, $1 par value, and 1000 shares of preferred stock, $100 par value, in a lump sum sale. Total proceeds from the issuance was $485000. The company can only reliably estimate the fair value of the common stock to be $15 per share. Provide the entry amounts for each below:

Additional paid in capital - CS

Additional paid in capital - PS

Common stock

Preferred Stock