reliably estimated A firm issues 100 shares of preferred stock and 1,000 shares of common stock in a lump sum sale on January 1, 2020. The company raises $26,000 cash from the issuance and neither class has a par or stated value. (1) Provide the journal entry if the common stock ($15 per share) and preferred stock ($101 per share) can both be reliably estimated (2) Provide the journal entry if only the preferred stock can be reliably estimated