PROBLEM II Smart Electronics completed the following stock issuance transactions: Issued 4,000 shares of $3 par value common stock for June 7 cash of $12 per share Issued 400 shares of no-par preferred stock for $25,000 Aug. 16 cash Received equipment with a market value of $75,000 in exchange for 5,000 shares of the $3 par value common Sept. 19 stock Issued 5,000 shares of $4 stated value common stock for Mar. 28 cash of $20 per share Received merchandise inventory with a market value of $46,000 in exchange for 2,000 shares of the $4 stated value May 1 common stock. REQUIRED: Prepare the journal entries to record these transactions. Explanations are not required