During its first year of operations, Rosa Corporation had these transactions pertaining to its common stock.

Jan. 10 Issued 30,000 shares for cash at $5 per share.

July 1 Issued 60,000 shares for cash at $7 per share.

Instructions

(a) Journalize the transactions, assuming that the common stock has a par value of $5 per share.

(b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $1 per share.

AppendixLO1