Caswell Corporation is authorized to issue 10,000 shares of common stock on December 31. It sells 5,000 shares at $16 per share.

Required:

Record the sale of the common stock, given the following independent assumptions:

1.	The stock has a par value of $10 per share.
2.	The stock is no-par stock, but the board of directors has assigned a stated value of $8 per share.
3.	The stock has no-par and no stated value.