Newly formed S&J Iron Corporation has 121,000 shares of $6 par common stock authorized. On March 1, Year 1, S&J Iron issued 9,000 shares of the stock for $11 per share. On May 2, the company issued an additional 16,500 shares for $20 per share. S&J Iron was not affected by other events during Year 1. question:  Prepare journal entries to record the March 1 and May 2 transactions

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