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1. (5 points) Kenner Corp. filed to sell 3 million shares of common stock. After the sale there will be about 31.5 million shares outstanding.

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1. (5 points) Kenner Corp. filed to sell 3 million shares of common stock. After the sale there will be about 31.5 million shares outstanding. Kenner shares closed at $17.15 on Nasdaq. The common stock of Kenner has a par of $0.01 per share. Prepare the journal entry to record the sale of the shares. Debit Account Credit Account Debit Amount Credit Amount

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