During its first year of operations, Bebo's Corporation had the following transactions pertaining to its common stocks:

Jan 10: Issued 90,000 shares for cash at $10 per share

July 1: issued 50,000 shares for cash at $20 per share

Instructions

(a) Journalize the transactions, assuming that the common stock has a par value of $10 per per share.

(b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $5 per share.