Prepare the journal entry to record each separate transaction. (a) On March 1, DVD Co. issues 44,500
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Prepare the journal entry to record each separate transaction.
(a) On March 1, DVD Co. issues 44,500 shares of $4 par value common stock for $255,000 cash.
(b) On April 1, GT Co. issues no-par value PI common stock for $50,000 cash,
(c) On April 6, MTV issues 2,000 shares of $20 par value common stock for $35,000 of inventory, $135,000 of machinery, and acceptance of a $84,000 note payable.
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