Lue Corporation was authorized to issue 30,000 shares of common stock. Record the journal entry for each of the following independent situations, assuming Lue issues 7,000 shares at $12 on July 20, 202X:
a. Common stock has an $11 par value.
b. Common stock has no-par and no stated value.
c. Common stock is no-par stock with a stated value of $5.