Penne Pharmaceuticals sold $8$ million shares of its $$1$ par common stock to provide funds for research and development.

If the issue price is $$13$ per share, what is the journal entry to record the sale of the shares?

Note: 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$.,10,000,000$ should be entered as $10).$

Journal entry worksheet

$1$

Record the sale of the shares.

Note: Enter debits before credits.

$\backslash$table$[[$Event$,$General Journal,Debit,Credit$],[1,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$