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Wildhorse Inc issued 500 shares of $10 value common stock and $100 par value of preferred stock for a lump sum of $24000. Prepare the

Wildhorse Inc issued 500 shares of $10 value common stock and $100 par value of preferred stock for a lump sum of $24000.

Prepare the journal entry of issuance when the market price of common share is $176 each market price of the preferred is $220 each.

Prepare the journal entry for the issuance when only the market price of common stock known, and it is $218 per share

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