Sweet Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $122,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $180 each and market price of the preferred is $225 each. Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $214 per share. (b) No. Account Titles and Explanation Debit Credit (a) (b)