Blossom Corporation had the following transactions during the current period. Mar. 2 June 12 Issued 5,200 common shares to its legal counsel in payment of a bill for $31,200 for services performed in helping the company incorporate. Issued 62,400 common shares for $390,000 cash. Issued 1,040, $3 noncumulative preferred shares at $110 per share cash. July 11 Nov. 28 Issued 2,080, $3 noncumulative preferred shares at $95 per share cash. 4 Date Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Account Titles Debit Credit
Blossom Corporation had the following transactions during the current period. Mar. 2 June 12 Issued 5,200 common shares to its legal counsel in payment of a bill for $31,200 for services performed in helping the company incorporate. Issued 62,400 common shares for $390,000 cash. Issued 1,040, $3 noncumulative preferred shares at $110 per share cash. July 11 Nov. 28 Issued 2,080, $3 noncumulative preferred shares at $95 per share cash. 4 Date Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Account Titles Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Blossom Corporation had the following transactions during the current period.
Mar. 2
June 12
July 11
Nov. 28
Issued 5,200 common shares to its legal counsel in payment of a bill for $31,200 for services performed in helping the
company incorporate.
Issued 62,400 common shares for $390,000 cash.
Issued 1,040, $3 noncumulative preferred shares at $110 per share cash.
Issued 2,080, $3 noncumulative preferred shares at $95 per share cash.
4
Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry
is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. List
all debit entries before credit entries.)
Date
Account Titles
Debit
Credit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Faa2b1ea2-d3d7-4735-8e0c-4c5f690a8909%2F8ddcc12f-e71e-4383-9ff6-cbd4771c513c%2Fze66i8_processed.png&w=3840&q=75)
Transcribed Image Text:Blossom Corporation had the following transactions during the current period.
Mar. 2
June 12
July 11
Nov. 28
Issued 5,200 common shares to its legal counsel in payment of a bill for $31,200 for services performed in helping the
company incorporate.
Issued 62,400 common shares for $390,000 cash.
Issued 1,040, $3 noncumulative preferred shares at $110 per share cash.
Issued 2,080, $3 noncumulative preferred shares at $95 per share cash.
4
Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry
is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. List
all debit entries before credit entries.)
Date
Account Titles
Debit
Credit
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