Question

R VERSIORN BACK Exercise 15-2 a stated value of $1 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 80,560 shares of common stock for cash at $7 per share. Mar. 1 Issued 5,680 shares of preferred stock for cash at $112 per share. Apr. 1 Issued 24, ee r was orezed on lenuary i, 2017. teis sucr e 1,300 r a 0 p value preferred stock nd 503,100 shares of ne par common atock with 570 shares of common stock for land. The asking price of the land was $90,100; the fair value of the land was $80,560 May 1 Issued 80,560 shares of common stock for cash at $9 per share. 9,300 shares of common stock to attorneys in payment of their bill of $46,000 for services rendered in helping the company organize. Sept. 1 Issued 9,300 shares of common stock for cash at $11 per share. Nov. 1 Issued 1,090 shares of preferred stock for cash at $117 per share Prepare the journal entries to record the above transactions. (Credit account titles are automatically et ndented when amount is entered, Do ot nmauaiy1 no entry la required, select "No Entry for the account titles and enter O for the amounts.) Debit Credit Date Account Titles and Explanation Show All