Marigold Corp. began operations on April 1 by issuing 57,500 shares of $5 par value common stock for cash at $13 per share. On April 19, it issued 1,650 shares of common stock to attorneys in settlement of their bill of $25,400 for organization costs. In addition, Marigold issued 800 shares of $2 par value preferred stock for $5 cash per share.
Journalize the issuance of the common and preferred shares, assuming the shares are not publicly traded