On May 1, 2020,High Land Company issued 75,000 shares of $1stated value common stock having a market price of $7 a share, and 3,800 shares of $10 par value preferred stock having a market price of $15 a share, for a lump sum of $945,000.Accordingly, the shareholders' accounts will be:

Account

$

Common Stock

Paid-in-capital, excess of par, common

Preferred Stock

Paid-in-capital, excess of par, preferred