The following transactions were completed by ABC Co.: Jan. 5 Received authorization to issue the following: 50,000 shares of 10% Preferred At P60 par value; and 100,000 Common shares at P 75 par value. Jan. 15 Received subscriptions for 25,000 shares of Preferred shares at P60 per share. Jan. 15 Received subscriptions from incorporators, 60,000 shares of Common at P8 per share. Jan. 20 Received full payment from subscribers of Preferred shares. Stock certificates were issued. Jan. 20 Received full payment from subscribers of Common shares. Stock Certificates were issued. Jan. 31 Paid 5,000 for organization costs. Required: Record the above transactions using: 1. Memorandum entry method 2. Journal entry method