E11-1 During its first year of operations, Mona Corporation had these transactions per- taining to its common stock. поn Jan. 10 Issued 30,000 shares for cash at $5 per share. July 1 Issued 60,000...

Extracted text: E11-1 During its first year of operations, Mona Corporation had these transactions per- taining to its common stock. поn Jan. 10 Issued 30,000 shares for cash at $5 per share. July 1 Issued 60,000 shares for cash at $7 per share. Instructions (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.