Pronghorn Corp began operations on April $1$ by issuing $52,200$ shares of $$5$ par value common stock for cash at $$15$ per share. In addition, Pronghorn issued $2,300$ shares of $$1$ par value preferred stock for $$5$ per shase.

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

Date Account Titles and Explanation

April $1$

April $1$ Credit

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