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During its first year of operations, Sarasota Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued 66,500 shares for cash at

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During its first year of operations, Sarasota Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued 66,500 shares for cash at $5 per share. July 1 Issued 43,500 shares for cash at $10 per share. (a) Your answer is correct. Journalize the transactions, assuming that the common stock has a par value of $5 per share. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Your answer is partially correct. Journalize the transactions, assuming that the common stock is no-par with a stated value of $1 per share. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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