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During its first year of operations, Mona Corporation had these transactions pertaining to its cornmonstock. Jan. 10 issued 30,000 shares for cash at $5 per
During its first year of operations, Mona Corporation had these transactions pertaining to its cornmonstock. Jan. 10 issued 30,000 shares for cash at $5 per share. July 1. Issued 60,000 shares for cash at $7 per share. (a) Journalize the transactions, assuining that the common stock has a par value of $5 per share. (b) Journalize the transactions, assuming that the common stock is no-par with astated value of $1 per share. (Recordjournal entries in the order presented in the problem. Credit occount tilles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry' for the account titles and enter O for the amounts)
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