Question 1 of 2 View Policies < > Show Attempt History Current Attempt in Progress During its first year of operations, Monty Corp. had these transactions pertaining to its common stock. Jan. 10 Issued 44,500 shares for cash at $7 per share. July 1 Issued 74,500 shares for cash at $10 per share. (a) Your Answer Correct Answer Your answer is correct. 1/2 Journalize the transactions, assuming that the common stock has a par value of $7 per share. (Record journal entries in the order presented in the problem. 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 O for the amounts.) (b) Date Account Titles and Explanation Jan. 10 Cash Common Stock July 1 Cash Common Stock Paid-in Capital in Excess of Par-Common Stock eTextbook and Media Solution List of Accounts Debit 311500 745000 Credit 31 52 22 Attempts: 3 of 3 used Journalize the transactions, assuming that the common stock is no-par with a stated value of $2 per share. (Record journal entries in the order presented in the problem. 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 O for the amounts.) Date Jan. 10 July 1 Account Titles and Explanation eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 0 of 3 used Submit Answer