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Bridgeport Corporation issued 2,400 shares of its $10 par value common stock for $51,700. Bridgeport also incurred $1,400 of costs associated with issuing the stock.

Bridgeport Corporation issued 2,400 shares of its $10 par value common stock for $51,700. Bridgeport also incurred $1,400 of costs associated with issuing the stock.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Current Attempt in Progress Bridgeport Corporation issued 2,400 shares of its $10 par value common stock for $51,700. Bridgeport also incurred $1,400 of costs associated with issuing the stock. Prepare Bridgeport's journal entry to record the issuance of the company's stock. (Credit account titles are automatically indented when 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.) Account Titles and Explanation eTextbook and Media List of Accounts Debit Credit
Transcribed Image Text:Current Attempt in Progress Bridgeport Corporation issued 2,400 shares of its $10 par value common stock for $51,700. Bridgeport also incurred $1,400 of costs associated with issuing the stock. Prepare Bridgeport's journal entry to record the issuance of the company's stock. (Credit account titles are automatically indented when 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.) Account Titles and Explanation eTextbook and Media List of Accounts Debit Credit
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