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Pronghorn Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations,
Pronghorn Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock Feb. 1 1suued 49,500 shares for cash at $53 per share July 1 Issued 64,500 shares for cashat $58 per share. (a) Journalize the transactions, (Record journal entries in the order presented in the problem. Credit account tities are automatically indented when amount is entered, Da not indent monually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the ampants)
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