Answer:
cash 1,469 debit
common stock 1 credit
additional paid-in 1,468 credit
--to record issuance of shares in exchange of cash--
Explanation:
We are given the fact that total par value of the shares is $1
thus, the remained will be additional paid-in excess of Common stock.
We debit the cash received as it is an asset
Then, we credit both, common stock and additional paid-in excess of Common Stock as they are equity accounts.
