please leave an indeph explanation. this is really confusing me

DeeDee has been authorized to issue 1,000,000 shares of $1 par Common Stock. At the end of 2021 , they had issued 50,000 shares for $25. They had properly accounted for this issuance. On January 2, 2022, they issued an additional 30,000 shares of Common Stock for $24 per share. The previous account recorded this transaction as a debit to Cash for $720,000 and a credit to Common Stock $720,000