On May 1, 10,000 shares of $10 par common stock were issued at $30, and on May 7, 5,000 shares of $50 par preferred stock were issued at $111.

Journalize the entry for May 1. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0".

Journalize the entry for May 7. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0".