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During its first year of operations, Foyle Corporation had the following transactions pertaining to its common stock. Jan.10 Issued70,000shares for cash at $5per share. July1

During its first year of operations, Foyle Corporation had the following transactions pertaining to its common stock.

Jan.10 Issued70,000shares for cash at $5per share.

July1 Issued40,000shares for cash at $7per share.

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

Then...

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

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