Prepare the issuer's journal entry for each of the following separate transactions.

On March 1, Atlantic Company issues 50,000 shares of $5 par value common stock for $320,000 cash.

On April 1, OP Company issues no-par value common stock for $85,000 cash.

On April 6, MPG issues 3,500 shares of $25 par value common stock for $54,000 of inventory, $160,000 of machinery, and acceptance of a $90,000 note payable