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Required information Skip to question [The following information applies to the questions displayed below.] Clothing Frontiers began operations on January 1 and engages in the
Required information
Skip to question[The following information applies to the questions displayed below.] 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 $34 per share. | ||
April | 1 | Issues 110 additional shares of common stock for $38 per share. |
Required: 1. Record the transactions, assuming Clothing Frontiers has no-par common stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
2. Record the transactions, assuming Clothing Frontiers has either $1 par value or $1 stated value common stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
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