Response to the following problem:
on july 12, lasting carpet inc., a carpet wholesaler, issued cash for 300,000 shares of no-par common stock ( with stated value of $4) at $9 , and on Nov. 18, it issued cash for 40,000 shares of $90 par preferred stock at $100
a. jurnalize the entires for july 12 and November 18, assuming that the common stock is to be continued with the stated value
b. what is the total amount invested ( total paid-in capital) by all stock holders as of November 18 ?