Journalize the transactions. Mar. 2 June 12 July 11 Nov. 28 Date 3/2/22 6/12/22 7/11/22 1/10/22 Issued 5,000 shares of $5 par value common stock to attorneys in payment of a bill for $30,000 for services performed in helping the company to incorporate. Issued 60,000 shares of $5 par value common stock for cash of $375,000. Issued 1,000 shares of $100 par value preferred stock for cash at $110 per share. Purchased 2,000 shares of treasury stock for $80,000. Account Debit Credit
Journalize the transactions. Mar. 2 June 12 July 11 Nov. 28 Date 3/2/22 6/12/22 7/11/22 1/10/22 Issued 5,000 shares of $5 par value common stock to attorneys in payment of a bill for $30,000 for services performed in helping the company to incorporate. Issued 60,000 shares of $5 par value common stock for cash of $375,000. Issued 1,000 shares of $100 par value preferred stock for cash at $110 per share. Purchased 2,000 shares of treasury stock for $80,000. Account Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:E11.8 (LO 2), AP Quay Co. had the following transactions during the current period.
Instructions
Journalize the transactions.
Mar. 2
June 12
July 11
Nov. 28
Date
3/2/22
6/12/22
7/11/22
1/10/22
Issued 5,000 shares of $5 par value common stock to attorneys in payment of a bill for $30,000 for services
performed in helping the company to incorporate.
Issued 60,000 shares of $5 par value common stock for cash of $375,000.
Issued 1,000 shares of $100 par value preferred stock for cash at $110 per share.
Purchased 2,000 shares of treasury stock for $80,000.
Account
Debit
Credit
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