Preparing Entry for Multiple Securities Issuance Amazing Inc. issued 1,000 shares of common stock ($1 par) and 1,000 shares of preferred stock ($10 par) at a price of $120,000 on April 1, 2020. At the time of issuance, the market price of the common stock is $60 per share, and the market price of the preferred stock is $120 per share. Prepare the journal entry required on April 1, 2020. Round allocation rates to 3 decimal points. Note: Carry all decimals in calculations; round the final answer to the nearest dollar. Date Account Name April 1, 2020 Common Stock Dr. Cr. Preferred Stock