1.GHI Corporation was authorized to issuethe following:

5000 Preference shares, par value, P15/share

20,000 Ordinary shares with no par value with stated value of P10/share.

2.The incorporators subscribed a total of 2,000 preference shares and 5,000

ordinary shares.

3.The subscribers paid 25% of their subscriptions.

4.The incorporators paid their subscriptions in full.

5.The corresponding stock certificates were issued.

6.500 preference shares at par value and 800 ordinary shares at stated value were

subscribed with 50% down payment.

7.100 preference shares at P16 per share and 300 ordinary shares at P12 share were

subscribed.

8.Received cash subscriptions of 50 preference shares at par value and 100 ordinary

shares at stated value.

9.Sold for cash 100 preference shares at P16 per share and 200 ordinary shares at

P11 per share.

Make a journal entry using a memo entry method.