Questions 1-4. Prepare the journal entries necessary for the following common stock and preferred stock transactions.

1. On April 1, 2015, OBrien Company issued 15,000 shares of no par value Common Stock for $150,000.

2. On September 24, 2015, OBrien Company issued 30,000 shares of Common Stock for $600,000. The common stock had a $15 per share par value.

3. On June 15, 2015, BTO Enterprises issued 5,000 shares of no par value Preferred Stock for $100,000.

4. On July 6, 2015, BTO Enterprises issued 25,000 shares of Preferred Stock for $625,000. The Preferred Stock had a $18 per share par value.