Prepare the journal entry to record Autumn Company's issuance of 71,000 shares of no-par value common stock assuming the shares:a. Sell for $34 cash per share.b. Are exchanged for land valued at $2,414,000.View transaction listJournal entry worksheet1Record the issuance of 71,000 shares of no-par value common stock assumingthe shares sell for $34 cash per share.2Note: Enter debits before credits.Transactiona.General JournalDebitCredit>

Solution in step - 2 . Answer:- 1. Date Account Dr Cr Cash $2,414,000 Common Stock, no par value $2,414,000 2. Date Account Dr Cr Land $2,414,000 Common Stock, no par value $2,414,000

Answered: Prepare the journal entry to record…

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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Hh1.
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