Question

Acc 102

During its first year of operations, Foyle Corporation had the following transactions pertaining to its common stock.

Jan.10
Issued 69,500 shares for cash at $7 per share.
July   1
Issued 38,000 shares for cash at $10 per share.
Journalize the transactions, assuming that the common stock has a par value of $7 per share. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.)DateAccount Titles and ExplanationDebitCredit Jan. 10July 1 Jan. 10July 1
Journalize the transactions, assuming that the common stock is no-par with a stated value of $2 per share. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.)DateAccount Titles and ExplanationDebitCredit Jan. 10July 1 Jan. 10July 1


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