Major Sports plans to raise $5,800,000 in an initial public offering of its common stock. The company is considering three options: a. Issue 116,000 shares of $1 par value common stock for $50 per share. b. Issue 580,000 shares of $1 par value common stock for $10 per share. c. Issue 1,160,000 shares of $1 par value common stock for $5 per share. Required: Record the issuance of common stock for each option. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 Issue 116,000 shares of $1 par value common stock for $50 per share. Journal entry worksheet > 1 2 3 Issue 580,000 shares of $1 par value common stock for $10 per share. Note: Enter debits before credits. Transaction b General Journal Debit Credit Record entry Clear entry View general journal > Journal entry worksheet < 1 2 3 Issue 1,160,000 shares of $1 par value common stock for $5 per share. Note: Enter debits before credits. Transaction C General Journal Debit Credit Record entry Clear entry View general journal