On May 1,10,000 shares of $10 par common stock were issued at $30, and on May 7,5,000 shares of $50 par preferred stock were issued at $111. Journalize the entry for May 1 . If an amount box does not require an entry, leave it blank. May 1 Journalize the entry for May 7. If an amount box does not require an entry, leave it blank. May 7 
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