Progress:6/10 items Question Content Area Issuing Common Stock Thoman Products, Inc., sold 20,300 shares of common stock to stockholders at the time of its incorporation. Thoman received $24.40 per share for the stock. Required: Question Content Area 1. Assume that the stock has a $20 par value per share. Prepare the journal entry to record the sale and issue of the stock. If an amount box does not require an entry, leave it blank. blank Cash Cash 406,000 Cash Common Stock Common Stock Common Stock Additional Paid-In Capital-Common Stock Additional Paid-In Capital-Common Stock Additional Paid-In Capital-Common Stock Feedback Area Feedback 1. When companies sell common or preferred stock to raise capital, the resulting ownership claims are recorded in the capital stock section of stockholders' equity. Question Content Area 2. Assume that the stock has a $15 stated value per share. Prepare the journal entry to record the sale and issue of the stock. If an amount box does not require an entry, leave it blank. blank Cash Cash 304,500 Cash Common Stock Common Stock Common Stock Additional Paid-In Capital-Common Stock Additional Paid-In Capital-Common Stock Additional Paid-In Capital-Common Stock Feedback Area Feedback 2. When companies sell common or preferred stock to raise capital, the resulting ownership claims are recorded in the capital stock section of stockholders' equity. Question Content Area 3. Assume that the stock has no par value and no stated value. Prepare the journal entry to record the sale and issue of the stock. If an amount box does not require an entry, leave it blank. blank Cash Cash Cash Common Stock Common Stock Common Stock Feedback Area Feedback 3. When companies sell common or preferred stock to raise capital, the resulting ownership claims are recorded in the capital stock section of stockholders' equity. Question Content Area 4. Conceptual Connection: How do the different par values affect total contributed capital and total stockholders' equity? The different par values increase total capital stock or total stockholders equity.