On May 1, 2018, Carlton Inc. issued 5,000 shares of common stock and 2000 shares of preferred stock for a lump sum of $330,000. The par value of the common stock was $.50 per share and the market value $27.20 per share. The par value of the preferred stock was $50 per share and the market value $102 per share. Prepare the necessary journal entry to record stock issuance.