Recording Entry for Stock Issuance Facebook raised over $16 billion in its initial public offering. Specifically, 421.2 million shares of Class A common stock, $0.000006 par value, were sold for $38 a share. Required Ignoring stock issue costs, record the journal entry for this stock issuance. Record your answer in millions. Note: If an amount does not meet the rounding threshold, enter the account name and a zero for the amount. Cash Retained Earnings Common Stock Account Name To record the stock issuance. Check Dr. Cr. 16,005,600,0 0x 0 16,005,600,000 * 0 0