During its first year of operations, Bridgeport Corp. had these transactions pertaining to its common stock. Jan. 10 Issued 25,300 shares for cash at $5 per share. July 1 Issued 51,500 shares for cash at $8 per share. (a) Journalize the transactions, assuming that the common stock has a par value of $5 per share. (b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $1 per share. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Date (a) Jan. 10 July 1 Cash Common Stock Common Stock Paid-in Capital in Excess of Par-Preferred Stock (b) Jan. 10 Cash Common Stock July 1 Cash Common Stock Paid-in Capital in Excess of Par-Common Stock Debit Credit 126500 412000 \begin{tabular}{r} \hline26700 \\ \hline 14500 \\ \hline \end{tabular} 126500 412000
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