Exercise 11-1 Your answer is partially correct. Ty again During its first year of operations, Martinez Corp. had these transactions pertaining to its common stock. Jan. 10 Issued 25,800 shares for cash at $6 per share July 1 Issued 54,000 shares for cash at $8 per share (a) Journalize the transactions, assuming that the common stock has a par value of $6 per share. (b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $3 per share (Record journal entries in the order presented in the problem. 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. Date Account Titles and Explanation Debit Credit (a) T Jan. 10 | |Cash 154800 Common Stock 154800 Jan. 10 ICash 430500 Common Stock Paid-in Capital in Excess of Par Value-Preferred Stock