to the questions aisplayea velow.

The following was in the financial press pertaining to Florence Incorporated:

Florence Incorporated stock was sold for $$31$ per share during its opening day of trading. Florence Incorporated sold $65$ million shares at its IPO.

P$11-4$ Part $1$

Required:

Record the issuance of stock, assuming the stock was no$-$par value common stock.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Enter your answers in millions rounded to $1$ decimal place $($i$.$e$.,5,500,000$ should be entered as $5\mathrm{.}5).$

Journal entry worksheet

$1$

Record the issuance of stock, assuming the stock was no$-$par value common stock.

Note: Enter debits before credits.

$\backslash$table$[[$Transaction$,$General Journal,Debit,Credit$],[$a$.,$Cash,,$],[,$Common stock,,$],[,$Cash,,$],[,$Common stock,,$],[,$Additional paid$-$in capital,,$],[,$F$,,]]$