PROBLEM 1 ISSUE COMMON AND PREFERRED STOCK 15 points 3 journal entries INSTRUCTIONS: Record the following transactions for Waylon Corp. 1-Nov Issued 1,000 shares of its $2 stated value common stock for $10 per share. 10-Nov Issued 2,000 shares of its $2 stated value common stock for equipment advertised forsale at $30,000. Waylon's stock is actively traded on this date at a market price of $10 per share. 20-Nov Issued 3,000 shares of $10 par value preferred stock at $20 per share for cash