Question: During the month of February, XYZ, Inc. completed the following transactions related to its stock:
- February 2: Issued 3,000 shares of no-par common stock with a stated value of $1 for $15 cash per share.
- February 3: Issued 9,000 shares of no-par common stock with no stated value for $20 per share
- February 20: Issued 600 shares of $4 par value preferred stock for equipment with a fair market value of $5,000.
Required: Prepare journal entries for the above transactions.