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Exercise 11-1





Your answer is correct.



During its first year of operations, Pele Corporation had these
transactions pertaining to its common stock.

Jan. 10


Issued 28,420 shares for cash at $6 per

July 1


Issued 55,730 shares for cash at $8 per




Journalize the transactions, assuming that the common stock has
a par value of $6 per share.



Journalize the transactions, assuming that the common stock is
no-par with a stated value of $1 per share.

(Record entries in the order displayed in the problem
statement. Credit account titles are automatically indented when
amount is entered. Do not indent manually.)


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