There is no journal chtry tuT 5. No-par value stock is quite rare today. DO ITI 11-2a Beauty Island Corporation began operations on April 1 by issuing 55,000 shares of $5 par value common stock for cash at $13 per share. In addition, Beauty Island issued 1,000 shares of $1 par value preferred stock for $6 per share. Journalize the issu- ance of the common and preferred shares. DO 1TI 11-26 Dinosso Corporation purchased 2,000 shares of its $10 par value common stock for $76,000 on August 1. It will hold these in the treasury until resold. Journalize the treasury stock transaction