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a. Issued 1000 shares of $6 par common stock for cash of $26,000. b. Issued 4,900 shares of $6 par common stock for a building
a. Issued 1000 shares of $6 par common stock for cash of $26,000. b. Issued 4,900 shares of $6 par common stock for a building with a fair market value of $97,000. c. Purchased new truck with a fair market value of $34,000. Financed it 100% with a long-term note. d. Retired short-term notes of $27,000 by issuing 2,400 shares of $6 par common stock. e. Paid long-term note of $10,000 to Bank of Tallahassee. Issued new long-term note of $26,000 to Bank of Trust
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