Pina Colada Corp. began operations on April $1$ by issuing $52,100$ shares of $$8$ par value common stock for cash at $$12$ per share. In addition, Pina issued $2,200$ shares of $$1$ par value preferred stock for $$5$ per share.

Journalize the issuance of the common and preferred shares. $($Credit account titles are automatically indented when amount is entered. not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Date

Account Titles and Explanation

Debit

Credit

April $1$

$$

$$

$($To record issuance of common shares$)$