To expand operations, Aragon Consulting issued 1,100 shares of previously unissued common stock with no par value.

Required:

1. Complete the table below, indicating the account, amount, and direction of the effect for the issuance of the no-par value stock at $50.

2. Prepare the journal entry for the issuance of the no-par value stock at $50

Record the issuance of 1,100 shares with no par value for a price of $50 per share.

Transaction	General Journal	Debit	Credit
1