During its first year of operations, Swifty Corporation had the following transactions pertaining to its common stock Issued 75,000 shares for cash at $7 per share. Jan. 10 July 1 Issued 35,000 shares for cash at $9 per share. (a) Your answer is correct. Journalize the transactions, assuming that the common stock has a par value of $7 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) Date Account Titles and Explanation Jan 10 Cash Common Stock July 1 Cash Paid-in Capital in Excess of Par-Common Stock Common Stock Debit 525000 315000 Credit 525000 70000 245000 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.) Date Account Titles and Explanation Jan. 10 July 1 eTextbook and Media List of Accounts Debit Credit