Record the issuance of additional shares for $1,469 cash; total par value was $1 and the rest was in excess of par value.

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.