Acc280 Financial Accounting: E13-3 During its first year of operations, Harlan Corporation

Acc280 Financial Accounting
E13-3
During its first year of operations, Harlan Corporation had the following transactions pertaining to its common stock. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2.)
10-Jan Issued 70,000 shares for cash at $5 per share.
1-Jul Issued 40,000 shares for cash at $7 per share.

Instructions:
a. Journalize the transactions, assuming that the common stock has a par value of $5 per share.
b. Journalize the transactions, assuming that the common stock is no-par with a stated value of $1 per share. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2.)
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