Clothing Frontiers began operations on January 1 and engages in the following transactions during the year related to stockholders equity.

January 1 Issues 700 shares of common stock for $44 per share. April 1 Issues 110 additional shares of common stock for $48 per share.

Required:

1. Record the transactions, assuming Clothing Frontiers has no-par common stock.

2. Record the transactions, assuming Clothing Frontiers has either $1 par value or $1 stated value common stock.