Blue Corporation issued $600$ shares of no$-$par common stock for $$7,200.$

Prepare Blue's journal entry if $($a$)$ the stock has no stated value, and $($b$)$ the stock has a stated value of $$3$ per share. $($List all deblt entrles before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

No$.$ Account Titles and Explanation

Debit

Credit

$($a$)$

$($b$)$