Your answer is partially correct. Try again. During its first year of operations, Flint Corporation had these transactions pertaining to its common stock Jan. 10 Issued 26,900 shares for cash at $4 per share. July 1 Issued 59,500 shares for cash at $7 per share. (a) Journalize the transactions, assuming that the common stock has a par value of $4 per share (b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $2 per share. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do the amounts.) No. Date Account Titles and Explanation (a) Jan. 10Cash Debit Credit 26900 Common Stock 26900 July 1 :Cash Paid-in Capital in Excess of Par Value-Common Stock (b)Y Jan. 10 | |Cash Common Stock Paid-in Capital in Excess of Par Value-Preferred Stock July 1 Cash Common Stock Paid-in Capital in Excess of Par Value-Common Stock