To expand operations, Aragon Consulting issued 1,900 shares of previously unissued common stock with a par value of $1. The price for the stock was $50 per share.

Prepare the journal entry for the stock issuance. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

1. Record the issuance of 1,900 shares with a $1 par value for a price of $50 per share.

2. a.Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance with a par value of $2. (Enter any decreases to account balances with a minus sign.)

A = L + SE

2. b. Prepare the journal entry for the stock issuance, if the par value were $2 per share. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Record the issuance of 1,900 shares with a $2 par value for a price of $50 per share.