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QUESTION

Clothing Frontlers began operations on January 1, and in the following transactions during the year related to stockholders’ equity. January 1: Issue 700 shares of common stock for $47 per share.April

Clothing Frontlers began operations on January 1, and in the following transactions during the year related to stockholders’ equity. January 1: Issue 700 shares of common stock for $47 per share.April 1: Issue 110 additional shares of common stock for $51 per share.Required: 1. Record the transactions; assuming clothing Frontiers has no-par common stock. (If no entry is required for a transaction/ event, select “No journal entry required” in the first account fields.)2. Record the transactions, assuming Clothing Frontiers has either $1 per value or $1 stated value common stock. (If no entry is required for a transaction/ events, select “No journal entry required” in the first account field.)

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******************** ************************************** stock329001-AprCash5610Common ********************* JournalDebitCredit1-JanCash32900Common ****************** paid-in-capital322001-AprCash5610Common ****************** *******************

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