cayman corporation begins operations on march 1 by issuing 100,000 shares of $1 par value common stock for cash at $12 per share. on march 15, it issues 5,000 shares of common stock to attorneys in settlement of their bill of $50,000 for organization costs. on march 28, cayman corporation issues 1,500 shares of $10 par value preferred stock for cash at $30 per share. journalize the issuance of the common and preferred shares, assuming the shares are not publicly traded.