Question: View the following as independent situations:
a. Marmon sells 8,000 shares of previously unissued common stock to the public for $32 and 20 per share. Albuquerque purchased none of this stock. What journal entry should Albuquerque make to recognize the impact of this stock transaction? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round your intermediate calculations.)