On June 1, Metlock, Inc. issues 1,300 shares of no-par common stock at a cash price of $8 per share.Journalize the issuance of the shares. (Credit account titles are automatically indented when amount is entered. Do not indentmanually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)Date Account Titles and ExplanationDebitCreditJune 1

Cash value will be = Number of shares * Cash price Cash value will be = 1,300 *8 Cash value will be…

Answered: On June 1, Metlock, Inc. issues 1,300…

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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