On January 14, Peerless Rocks Inc., a marble contractor, issued for cash 35,000 shares of $15 par common stock at $51, and on March 17, it issued for cash 130,000 shares of $5 par preferred stock at $7.
a. Journalize the entries for January 14 and March 17.
If an amount box does not require an entry, leave it blank or enter zero ("0").
b. What is the total amount invested (total paid-in capital) by all stockholders as of March 17?