$[$The following information applies to the questions displayed below.$]$

Tarrant Corporation was organized this year to operate a financlal consulting business. The charter authorized the following stock common stock, $$17$ par value, $13,000$ shares authorized. During the year, the following selected transactions were completed:

a$.$ Sold $6,900$ shares of common stock for cash at $$34$ per share.

b$.$ Sold $2800$ shares of common stock for cash at $$39$ per share.

c$.$ At year$-$end, the company reported net income of $$7,500.$ No dividends were declared.

Required:

Prepare the Journal entrles required to record the sale of common stock in $($a$)$ and $($b$).$

Note: If no entry is required for a transaction$/$event$,$ select $"$No Journal entry required" In the first account field.

Journal entry worksheet

$2$

$5$old $6,900$ shares of common stock for cash at $$34$ per share.

$\backslash$table$[[$Transaction$,,$General Journal,Credit$],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$

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$2^{}3$

or $4$

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