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Blossom Company had these transactions during the current period. June 12 Issued 78,000 shares of $1 par value common stock for cash of $292,500. July

Blossom Company had these transactions during the current period.

June 12 Issued 78,000 shares of $1 par value common stock for cash of $292,500.
July 11 Issued 2,500 shares of $100 par value preferred stock for cash at $104 per share.
Nov. 28 Purchased 1,000 shares of treasury stock for $7,100.

Prepare a tabular summary to record the Blossom Company transactions. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)

Assets

=

Liabilities

+

Stockholders Equity

Paid-in-Capital

+

Retained Earnings

Cash

= +

Common Stock

+

PIC in Excess of Par Com.

+

Pref. Stock

+

PIC in Excess of Par Pref.

Treasury Stock

+

Revenue

-

Expense

-

Dividend

June 22

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

select an account title Common stockPreferred stockDividendsPaid-in-capital in excess of common stockInterest expensePaid-in-capital in excess of preferred stock
July 11

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

select an account title DividendsPaid-in-capital in excess of preferred stockPaid-in-capital in excess of common stockPreferred stockCommon stockInterest expense
Nov. 28

enter a dollar amount

enter a dollar amount

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