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Entries for issuing stock On January 22, Zentric Corporation issued for cash 180,000 shares of no-par common stock at $12. On February 14, Zentric issued at par value 50,000 shares of preferred 2% stock, $50 par for cash. On August 30, Zentric issued for cash 20,000 shares of preferred 2% stock, $50 par at $54. Journalize the entries to record the January 22, February 14, and August 30 transactions. If an amount box does not require an entry, leave it blank.

Entries for issuing stock On January 22, Zentric Corporation issued for cash 180,000 shares of no-par common stock at $12. On February 14, Zentric issued at par value 50,000 shares of preferred 2% stock, $50 par for cash. On August 30, Zentric issued for cash 20,000 shares of preferred 2% stock, $50 par at $54. Journalize the entries to record the January 22, February 14, and August 30 transactions. If an amount box does not require an entry, leave it blank.

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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Entries for issuing stock

On January 22, Zentric Corporation issued for cash 180,000 shares of no-par common stock at $12. On February 14, Zentric issued at par value 50,000 shares of preferred 2% stock, $50 par for cash. On August 30, Zentric issued for cash 20,000 shares of preferred 2% stock, $50 par at $54.

Journalize the entries to record the January 22, February 14, and August 30 transactions. If an amount box does not require an entry, leave it blank.

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