Response to the following questions:
1. Brown Corporation issues 800 shares of its $5 par common stock for $20 per share. Prepare the journal entry to record this transaction.
2. Heart Corporation entered into a subscription contract with several subscribers. The contract requires the subscribers to purchase 2,000 shares of $4 par common stock at a price of $20 per share. The contract requires a down payment of $5 per share, with the remaining $15 per share collectible at the end of one month. The stock will be issued to each subscriber upon full payment. Prepare the journal entry to record this transaction.