Sierra Systems completed the following stock issuance transactions: (Click the icon to view the transactions.) Requirements 1. Journalize the transactions. Explanations are not required. 2. How much paid-in capital did these transactions generate for Sierra Systems? Requirement 1. Journalize the transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) June 19: Issued 1,000 shares of $6 par common stock for cash of $12.50 per share. Journal Entry Date Accounts Debit Credit Jun 19 July 3: Sold 560 shares of $4.00, no-par preferred stock for $28,000 cash. Journal Entry Date Accounts Debit Credit Jul 3|| July 11: Received inventory valued at $25,000 and equipment with market value of $7,000. Issued 4,000 shares of the $6 par common stock in exchange. Journal Entry Date Accounts Debit Credit Jul 11 Requirement 2. How much paid-in capital did these transactions generate for Sierra Systems? Total paid-in capital generated from these transactions amounts to $ More Info Jun Jul 19 Issued 1,000 shares of $6 par common stock for cash of $12.50 per share. 3 Sold 560 shares of $4.00, no-par preferred stock for $28,000 cash. 11 Received inventory with a market value of $25,000 and equipment with market value of $7,000. Issued 4,000 shares of the $6 par common stock in exchange. Print Done