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Novak Corporation issued 510 shares of no-par common stock for $8,400. Prepare Novak's journal entry if (a) the stock has no stated value, and (b)

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Novak Corporation issued 510 shares of no-par common stock for $8,400. Prepare Novak's journal entry if (a) the stock has no stated value, and (b) the stock has a stated value of $2 per share. (Credit account titles 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 0 for the amounts.)

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