Recording the Sale of Common Stock Yellow Company, a food coloring manufacturer that provides its products to large processed-food corporations, issues 520,000 shares of common stock (par value $0.15 ) for $19 per share. Required: Prepare the necessary journal entry to record this transaction. If an amount box does not require an entry, leave it blank. S Feedback Check My Work When companies sell common or preferred stock to raise capital, the resulting ownership claims are recorded in the capital stock