On September 10th, Grape Theory issued 25,000 shares of Common Stock for Cash, with a Par Value of $1 for $5 each. They also issued 10,000 shares of 1% Preferred Stock, with a Par Value of $1 for $10 each. Journalize the entry for the issuance of the shares:

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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On September 10th, Grape Theory issued 25,000 shares of Common Stock for Cash, with a Par Value of $1 for $5 each. They also issued 10,000 shares of 1% Preferred Stock, with a Par Value of $1 for $10 each. Journalize the entry for the issuance of the shares:

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