Question: On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 180,000 shares of $20 par common stock at $23, and on February

On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 180,000 shares of $20 par common stock at $23, and on February 27, it issued for cash 25,000 shares of preferred stock, $7 par at $9.
a. Journalize the entries for January 22 and February 27.
b. What is the total amount invested (total paid-in capital) by all stockholders as of February 27?

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a Jan 22 Cash 180000 23 4140000 Common Stock 180 000 20 3600000 ... View full answer

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