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Whispering Corporation issued 720 shares of no-par common stock for $8,000. Prepare Whispering’s journal entry if...

Whispering Corporation issued 720 shares of no-par common stock for $8,000.

Prepare Whispering’s journal entry if (a) the stock has no stated value, and (b) the stock has a stated value of $2 per share. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

No.

Account Titles and Explanation

Debit

Credit

(a)

enter an account title to record the transaction assuming option a enter a debit amount enter a credit amount
enter an account title to record the transaction assuming option a enter a debit amount enter a credit amount

(b)

enter an account title to record the transaction assuming option b enter a debit amount enter a credit amount
enter an account title to record the transaction assuming option b enter a debit amount enter a credit amount
enter an account title to record the transaction assuming option b enter a debit amount enter a credit amount
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Credit No (a) Debit $ 8,000 $ 8,000 Account Titles and Explanation Cash Common Stock Cash Common Stock Paid in Capital in Exc

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