Financial and Managerial Accounting: P13-47 Daniels decides to raise additional capital

Financial and Managerial Accounting
P13-47 Sources of equity and journalizing stock issuance
This problem continues the Daniels Consulting situation from Problem P12-45 of Chapter 12.
Daniels decides to raise additional capital for a planned business expansion by issuing 8,000 additional $2 par value common shares for $24,000 and by issuing 2,500, 4%, $50 par preferred shares at $55 per share. 
Assuming total stockholders’ equity is $25,422 and includes 200 shares of common stock and 0 shares of preferred stock issued and outstanding immediately before the previously described transactions, journalize the entries related to the issuances of both common and preferred shares. 
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