Clothing Frontiers began operations on January 1, and engages in the following transaction during the year related to stockholders’ equity

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:

1. 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.)

2. 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.)