Record the issuance of common stock $($ LO$10-2)$

E$10-3$ Clothing Frontiers began operations on January $1$ and engages in the following transactions during the year related to

stockholders' equity.

January $1$ Issues $700$ shares of common stock for $$50$ per share.

April $12$ Issues $110$ additional shares of common stock for $$54$ per share.

Required:

Record the transactions, assuming Clothing Frontiers has no$-$par common stock.

Record the transactions, assuming Clothing Frontiers has either $$1$ par value or $$1$ stated value common stock.