To expand operations, Aragon Consulting issued 1,350 shares of previously unissued common stock with a par value of $1. The price for the stock was $50 per share.

requirement:

a) on the journal entry, Record the issuance of 1,350 shares with a $1 par value for a price of $50 per share.

b) on the journal entry for the stock issuance, Record the issuance of 1,350 shares with a $2 par value for a price of $50 per share. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)