Your answer is correct.
During its first year of operations, Pele Corporation had these
transactions pertaining to its common stock.
Issued 28,420 shares for cash at $6 per
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.)