P11-4 (Algo) Recording Transactions and Comparing Par and No-Par Stock LO11-1, 11-3 The following information applies to the questions displayed below] The following was in the financial press pertaining to Florence Inc.: Florence Inc. stock was sold for $29 per share during its opening day of trading. Florence Inc. sold 50 million shares at it IPO. P11-4 Part 2 2. Record the issuance of stock, assuming the common stock had a par value of $1 per share. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 5,000,000 should be entered as 5).) View transaction list Journal entry worksheet Record the issuance of stock, assuming the common stock had a par value of $1 per share. Note: Enter debits before credits Transaction Goneral Journal Dobit Credit