On January 22, jefferson county rocks inc., a marble contractor, issued for cash 230,000 shares of $20 par common stock at $25, and on february 27, it issued for cash 12,000 shares of preferred stock, $8 par at $14.
a. Journalize the entries for January 22 and February 27.
b. What is the total amount invested (total paid-in capital) by all stockholders as of February 27?