Tennis Apparel has two classes of stock authorized: $4\%,$$$10$ par preferred, and $$1$ par value common. The following transactions affect stockholders' equity during $2024,$ its first year of operations:Problem $10-6$A $($Algo$)$ Part $1$

Required:

Record each of these transactions. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

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Journal entry worksheet

$1$

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Record the issuance of $120,000$ shares of common stock for $$53$ per share.

Note: Enter debits before credits.

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