Alpha Sounds Corpu an electric guitar retailer, was organized by Michelo Kirby, Paul Glenn, and Gretchen Northway, The charter authorized 1,000,000 shares of comrmon stock with a par of $1 The following transactions affecting steckholdess' equity were completed during the tint year of operations: Jan. 2. Issued B4,000 shares of stock at par to Paul Glern for cash. 5. Issued 2,100 shares of stock at par to Mchele Kirby for promotional sorvices provided in conrection with the organization of the corporation and issued 40,600 shares of stock at par to Michele Kirty for cash. (record as two separate transactions) B. Purchased land and a buliling from Gretchen Northway in exchange for stock issued at pa. The buiding is morigaged for $184,100 for 20 yoars at 6%, and there is acerued interest of $4,800 on the mortgage note at the sime of the purchase. It is agreed that the land is to be priced at 560.200 and the bulding at $228,300 and that Gretchen Norttway's equity wall be exchanged for stock at par. The corporation agreed to assume responsibility for paying the mortgage note and the accrued interest Pequired: Joumaire the entries to recovd the transactions. Aoler to the chart af accounts for the exact wording of the account hites. CNOW joumals do not use anes for foumal explanations. Every fine on a jounal page is used for debit or credi entries. CNOW joumals wil audornaticady indent a credit enty when a credt amount is enteved Ulf trensactions on this page must be entered (except for post ref(s)) before you will receive Check My Work feedback. Alpha Sounds Corpu an electric guitar retailer, was organized by Michelo Kirby, Paul Glenn, and Gretchen Northway, The charter authorized 1,000,000 shares of comrmon stock with a par of $1 The following transactions affecting steckholdess' equity were completed during the tint year of operations: Jan. 2. Issued B4,000 shares of stock at par to Paul Glern for cash. 5. Issued 2,100 shares of stock at par to Mchele Kirby for promotional sorvices provided in conrection with the organization of the corporation and issued 40,600 shares of stock at par to Michele Kirty for cash. (record as two separate transactions) B. Purchased land and a buliling from Gretchen Northway in exchange for stock issued at pa. The buiding is morigaged for $184,100 for 20 yoars at 6%, and there is acerued interest of $4,800 on the mortgage note at the sime of the purchase. It is agreed that the land is to be priced at 560.200 and the bulding at $228,300 and that Gretchen Norttway's equity wall be exchanged for stock at par. The corporation agreed to assume responsibility for paying the mortgage note and the accrued interest Pequired: Joumaire the entries to recovd the transactions. Aoler to the chart af accounts for the exact wording of the account hites. CNOW joumals do not use anes for foumal explanations. Every fine on a jounal page is used for debit or credi entries. CNOW joumals wil audornaticady indent a credit enty when a credt amount is enteved Ulf trensactions on this page must be entered (except for post ref(s)) before you will receive Check My Work feedback