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Martinez Corp. began operations on April 1 by issuing 51,800 shares of $3 par value...

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Accounting

Martinez Corp. began operations on April 1 by issuing 51,800 shares of $3 par value common stock for cash at $11 per share. In addition, Martinez issued 1,900 shares of $1 par value preferred stock for $5 per share.
Journalize the issuance of the common and preferred shares. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)
\table[[Date Account Titles and Explanation],[April 1],[],[]]
Debit
Credit
(To record issuance of common shares)
April 1
(To record issuance of preferred shares)
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