On January 2, 2019, Cotton Inc. issued 35,000 shares of $10 par-value common stock and 5,000...
On January 2, 2019, Cotton Inc. issued 35,000 shares of $10
par-value common stock and 5,000 shares of 8 percent, $50 par-value
preferred stock for cash at par value.
Prepare a journal entry to record the issuance of the
stock.
Journal entry worksheet
- Record the issuance of common stock at $10 per share and preferred stock at $50 per share.
Note: Enter debits before credits.
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On January 2, 2019, Cotton Inc. issued 35,000 shares of $10
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