Parlay Corporation has 2,000,000 shares of $0.50 par value common stock outstanding.The following selected transactions related to the company's stock took place during the current year:
Prepare necessary journal entries to record the events of April 15,May 1 and May 10.

Par Value

The nominal value of a bond or stock as declared by the issuer, not always representing its current market price.

Journal Entries

Recorded transactions in the accounting books that track all financial activities of a business.

Common Stock

A type of security that represents ownership in a corporation, with holders usually having voting rights and a claim on profits in the form of dividends.