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Based on the following information from Castle Keys Corporation, prepare the appropriate journal entries.
Apr. 10
Incurred organization costs totaling $4,200.
12
Issued 9,000 shares of $10 par common stock for $110,000.
25
Issued 3,500 shares of 7%, $30 par preferred stock for $115,000.
30
Issued 6,000 shares of $10 par common stock for $65,000.
May 15
Issued 3,000 shares of 7%, $30 par preferred stock for equipment with a fair market value of $93,000.
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