Brimley Corp.issued 5,000 common shares,no par,and 800 preferred shares.At the time of issue the common shares were selling at $30 per share and the preferred at $25.Total cash received was $162,000.Prepare the journal entry to record the issuance of the shares.

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The Answer of Brimley Corp.issued 5,000 common shares,no par,and 800 preferred shares.At the time of issue the common shares were selling at $30 per share and the preferred at $25.Total cash received was $162,000.Prepare the journal entry to record the issuance of the shares.