Issuance of No-Par Common Stock
Jackson & Company issued 100,000 shares of $1 par value common stock at a price of $5 per share and issued 40,000 shares of no-par value common stock at a price of $10 per share.
Prepare the journal entry to record the issuance of the no-par value common stock.
How does this entry differ from the entry to record the $1 par value common stock?
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