Clothing Frontlers began operations on January 1, and in the following transacti

Clothing Frontlers began operations on January 1, and in the following transactions during the year related to stockholders’ equity. January 1: Issue 700 shares of common stock for $47 per share.April 1: Issue 110 additional shares of common stock for $51 per share.Required: 1. Record the transactions; assuming clothing Frontiers has no-par common stock. (If no entry is required for a transaction/ event, select “No journal entry required” in the first account fields.)2. Record the transactions, assuming Clothing Frontiers has either $1 per value or $1 stated value common stock. (If no entry is required for a transaction/ events, select “No journal entry required” in the first account field.)

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