Issuing Common Stock Thoman Products, Inc., sold 21,400 shares of common stock to stockholders at the time of its incorporation. Thoman received $24.40 per share for the stock. Required: 1. Assume that the stock has a $20 par value per share. Prepare the journal entry to record the sale and issue of the stock. If an amount box does not require an entry, leave it blank. 38 88 2. Assume that the stock has a $15 stated value per share. Prepare the journal entry to record the sale and issue of the stock. If an amount box does not require an entry, leave it blank. 3. Assume that the stock has no par value and no stated value. Prepare the journal entry to record the sale and issue of the stock. If an amount box does not require an entry, leave it blank. 88