Problem
Clothing Frontiers began operations on January 1, and engages in the following transaction during the year related to stockholders' equity.
January 1 Issued 700 shares of common stock for $47 per share.
April 1 Issued 110 additional shares of common stock for $51 per share.
Required:
• Record the transactions, assuming Clothing Frontiers has mo-par common stock. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
• Record the transactions, assuming Clothing Frontiers has either $1 par value or $1 stated value common stock. (If no entry required for a transaction/event, select "No journal entry required" in the first account field.)
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.