On June 1, Ayayai Inc. issues 3,500 shares of no-par common stock at a cash price of $10 per share. Journalize the issuance of the shares assuming the stock has a stated value of $2 per share. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

On June 1, Ayayai Inc. issues 3,500 shares of no-par common stock at a cash price of $10 per share. Journalize the issuance of the shares assuming the stock has a stated value of $2 per share. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.)